XRP has experienced an upward trend due to positive macroeconomic developments and a potential catalyst related to the cryptocurrency itself. The token’s price increased by 2.4% over the previous 24 hours as of 5:45 p.m. ET. Concurrently, Bitcoin saw a rise of 2.7%, while Ethereum’s value increased by 4.3%.
Recent statements by President Donald Trump suggested a significant reduction in tariffs on Chinese imports. Reuters reported that the U.S. administration is considering lowering import taxes on Chinese goods from 145% to a range between 50% and 65%. Additionally, President Trump appeared to soften his stance toward Federal Reserve Chairman Jerome Powell, stating that he did not intend to dismiss him. News of Trump Media’s plans to introduce exchange-traded funds (ETFs) that combine stocks and cryptocurrencies also contributed to the rise in XRP’s token price.
Despite these increases on Tuesday and Wednesday, XRP’s token price is still approximately 33% below its peak earlier this year, indicating that it remains a high-risk investment. Nevertheless, the inclusion of XRP in the United States’ digital-asset reserve program presents a potential long-term positive catalyst. Signs that the Securities and Exchange Commission (SEC) might be more favorable towards ETFs that involve XRP could support potential valuation gains through new funds from Trump Media and other financial product providers.
For investors with a long-term perspective, XRP is considered a notable option in the cryptocurrency market. However, it is important for investors to recognize that macroeconomic volatility continues to pose a significant risk.
