- Global markets face potential 'Black Monday' fears after U.S. President Trump declared reciprocal tariffs against 185 countries, triggering widespread risk-off sentiment.
- XRP has dropped over 4% and is testing a crucial support zone between $1.90-$2.11, currently trading around $2.03 near the midpoint of this range.
- Technical analysis shows XRP has formed a bearish Head and Shoulders pattern with multiple rejections from the 50-day moving average, though MACD suggests downside momentum may be slowing.
- A breakdown below $1.90 could trigger a sharp decline toward the 200-day moving average at $1.83, while holding support could lead to a recovery attempt toward $2.35.
Date: Sun, April 06, 2025 | 06:10 PM GMT
Global markets are on edge as fears of a potential “Black Monday” loom. This follows a major announcement from U.S. President Trump, who recently declared reciprocal tariffs against 185 countries—a move that has triggered widespread risk-off sentiment among investors. Crypto markets, already under pressure, are feeling the heat. Ethereum (ETH), in particular, has extended its brutal downtrend—dropping over 6% in the past 24 hours and falling below the $1,700 mark.
Amid this broader market weakness, XRP is also down over 4% on the day, and is now sitting right on a crucial support zone that could determine its next major move.
XRP at a Critical Support
On the daily timeframe, XRP has printed a Head and Shoulders pattern—a bearish formation that typically signals a trend reversal. Multiple rejections from the 50-day moving average have added further downside pressure, pushing XRP into a historically important support zone between $1.90 and $2.11.
At the time of writing, XRP trades around $2.03, hovering near the midpoint of this range.
Technically, this zone has acted as a springboard in past corrections, and bulls will be hoping history repeats. The MACD indicator is showing signs of flattening, suggesting that downside momentum may be slowing, and a rebound could be in the cards if bulls defend the $1.90 level.
However, a clean breakdown below $1.90 could trigger a sharp decline toward the next key level—the 200-day moving average at $1.83, which is expected to offer stronger long-term support.
What’s Ahead?
If bulls manage to hold the line at the current support, XRP may attempt a recovery back toward the 50-day MA resistance zone around $2.35. But with macro headwinds intensifying and bearish sentiment growing, this could turn into a make-or-break week for XRP.
Traders should keep a close eye on $1.90—a decisive move below that could open the door to deeper losses, while a bounce from here could signal a short-term bottom in play.
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