XRP (XRP) 0.19%)) It’s moving higher thanks to some positive macroeconomic developments and potential coin-specific catalyst trades. Cryptocurrency token prices rose 2.4% in trading over the past 24 hours as of 5:45pm ET. meanwhile, Bitcoin Increased 2.7% from the last day Ethereum It rose 4.3%.
Yesterday, after comments from President Donald Trump showed tariffs on Chinese goods would drop significantly, Reuters today reported that it is being opened to lowering import taxes on country goods from 145% to 50% to 65%. Adding another positive catalyst, President Trump appears to have backed his criticism of Federal Reserve Chairman Jerome Powell, saying he is not trying to fire US Central Bank leaders. The price of XRP tokens appears to have been boosted by the news Trump Media It plans to move forward with plans to launch an Exchange Trade Fund (ETF), which combines stocks and cryptocurrencies with tradeable security.
Are you buying XRP now?
Despite profits from trading on Tuesday and Wednesday, XRP token prices have fallen by about 33% from the high that reached earlier this year. Even with a massive valuation drawback, it is clear that cryptocurrencies remain a very risky investment.
Meanwhile, confirmation that XRP is part of the US Digital Asset Reserve Program opens the door for a long-term, meaningful bullish catalyst. New funds from Trump Media and other providers of financial products could also be able to support the benefits of the valuation, as the Securities and Exchange Commission (SEC) may be building around or warming up to ETFs that contain XRP tokens.
For long-term investors, I think XRP stands out as one of the most attractive purchases in the crypto space right now. However, investors need to understand that macroeconomic volatility continues to be a major risk factor.
Keith Noonan has no position in any of the stocks mentioned. Motley Fool has Bitcoin, Ethereum and XRP positions and is recommended. Motley Fools have a disclosure policy.
