XRP retraces after the Trump tariff-pause induced rally met with 100 EMA resistance
XRP's recent rally has lost momentum after a strong surge earlier this week.
The cryptocurrency climbed over 10% following President Donald Trump's announcement of a 90-day tariff pause, pushing the price to a three-day high of $2.09. This surge allowed XRP to reclaim the $2 psychological level and break through the Fibonacci 0.786 retracement level. However, the rally was capped by the 100 EMA on the 4-hour chart, signaling that resistance is holding firm.
Today, April 10, the price has pulled back. In the Asian session, XRP dropped by nearly 5%, and it’s now trading just below $2 in the European session, with limited volatility. This softening momentum raises concerns that XRP may fail to hold the $2 mark for much longer due to the daily RSI in bearish territory, which indicates continued downward pressure.
XRP key support at $1.9 could prevent further losses
XRP price dynamics (Dec 2024 - April 2025). Source: Tradingview
For bulls, the immediate focus is on regaining the $2 level. To do this, XRP must break through the Fibonacci 0.786 retracement level at $2.05, followed by the 100 EMA at $2.09. These levels will be crucial in determining whether the current bullish retracement can extend or if the market will continue its downward trend.
If XRP fails to reclaim these levels and continues its descent, the next support zone is at $1.90, where the Fibonacci 50% retracement level aligns. This support could be key to preventing further declines. On the daily chart, the 50 and 100 EMAs are approaching a death cross, which could signal an increase in bearish momentum if the trend continues.
In summary, if XRP can regain momentum above $2 and break key resistance levels, a continued recovery is possible. Otherwise, the bearish trend will likely prevail, and the price could test lower support levels soon.
XRP attempted a recovery but faced resistance at the 0.382 Fibonacci level. The price stalled after a failed breakout attempt at $2 earlier in the week.
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