“I wouldn’t be surprised to wake up and hear that the tariffs have been postponed,” said Ackman, implying that Trump could use the delay to make more “deals.”

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On April 2, Trump signed an executive order imposing a 10% baseline tariff on all imports. Following this move, during the April 4 trading session, the U.S. stock market lost more value than the entire crypto market is currently worth. Interestingly, Bitcoin and the broader crypto space showed greater resilience than traditional equities.

Support from BitMEX and Gemini Founders!

BitMEX co-founder Arthur Hayes and Gemini co-founder Cameron Winklevoss publicly supported Trump’s trade policy. While opinions in the crypto space remain mixed, Ackman sees the tariffs as a “necessary” move to protect American workers and industry.

Ackman also issued a warning:

“The immediate implementation of these tariffs may catch businesses off guard and could push the U.S. economy into a severe recession.”

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What caused this sharp decline? U.S. President Donald Trump’s additional tariffs on Mexico and Canada created significant market uncertainty. The impact of trade wars on the crypto market led investors to panic sell, and XRP’s price movement was a clear reflection of this development.

XRP’s Technical Levels: Critical Points!

The recent crash and recovery have made key levels in the XRP chart more evident:

• Support Level: $2.25
• Resistance Level: $2.72

According to the chart analysis, it is crucial for XRP to hold the $2.25 level. If it drops below this level, a further decline to $1.70 may occur. However, if XRP surpasses the $2.72 resistance level, a strong recovery could begin!

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Other Coins in the “Made in USA” Category Also Took a Big Hit!

Not just XRP—other major projects in CoinMarketCap’s “Made in USA” category also suffered heavy losses!

• Solana (SOL): Lost 6.90% in the last 24 hours, dropping to $198.37.
• Dogecoin (DOGE): Fell 13.89%, down to $0.2568.
• Cardano (ADA): Declined 18.09%, reaching $0.7191.
• Avalanche (AVAX): Plummeted 17.01%, settling at $25.72.

Most of these cryptocurrencies experienced major losses between 15% and 23% over the past week. This indicates that American-based projects have been subjected to panic selling by investors, reflecting growing concerns in the overall market.

Can XRP Return to Its Previous Levels?

The recent developments have divided cryptocurrency investors. Bears aim to push prices lower under the pressure of trade wars, while bulls believe that maintaining technical support levels could initiate another upward movement. XRP’s ability to hold $2.35 will be the most critical factor in determining its direction in the coming days!

XRP and American-based cryptocurrencies have experienced a severe shake-up, but the recovery process has begun rapidly. Future price movements will shape investors’ strategies! Stay tuned for updates!

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post American-Based Coins Take a Big Hit! XRP Crash and Recovery! appeared first on Coin Engineer.