Will Trump reserves retain XRP on $ 3?

Two days ago, US President Donald Trump Donald Trump Donald Trump is a former American president, a businessman, and a media figure, who held the position of forty -fifth President of the United States between 2017 to 2021. Trump won the Bachelor of Science in Economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential elections as a candidate for the Republican Party against the Democratic Party candidate Hillary Clinton. In his capacity, Trump ordered a travel ban on citizens from many Muslim majority countries, transforming military financing towards building a wall on the border between the United States and Mexico, and implemented the family separation policy. Trump remained a prominent figure in the Republican Party and is considered a potential candidate for the 2024 presidential elections president The executive order was signed to create a strategic encryption reserve. Some elements left many encryption fans amazed, calling for the inclusion of XRP, Solana and Cardano, along with Bitcoin, in the reserve. XRP growth for seven days is 8.6 % that the XRP market has benefited from Trump’s work. However, the current situation in the market does not seem promising. In the last 24 hours alone, the XRP price decreased by more than 5.2 %. The market appears to be partially lost the initial excitement.

It is worth noting that experts point out that there is a little opportunity for Trump’s strategic coding steps to receive the approval of Congress. The question is: Did the uncertainty about the Trump’s backup plan on the XRP market?

XRP gathered to $ 3 after a Trump -to -coding reserve

The general trend in the XRP market was positive this week. In the past seven days alone, the market has increased by approximately 8.6 %. At the beginning of March 1, the price of XRP was at $ 2.14. On the first two days of the month, the market rose by more than 35.51 %.

At one point on March 2, the market collapsed over the level of $ 3. On March 3, the XRP price fell to $ 2.38. Although between 4 and 6 March, the market has tried to recover from a growth of 8.82 %, it has witnessed a tremendous decrease of 4.9 % in the past 24 hours.

The main procedure mentioned above clearly indicates that the XRP market has positively responded to the Trump advertisement regarding strategic encryption reserves, although the positive trend lasted for a short period only.

The overall economic opposite winds XRP momentum

Yesterday, no less than two important events occurred in the issuance of the economic index in the United States market. The non -farm salary index in the United States grew from 125 thousand to 151 km – much lower than 160 thousand expectations.

The unemployment rate in the United States increased from 4 % to 4.1 % in February. The expectation was that it would remain at the level of 4 % itself.

Economic events indicate that the macroeconomic scenario in the United States is not impressive.

Experts say fears related to inflation and federal reserve policies have led to a decrease in risk appetite among encryption investors.

Jpmorgan doubts about the approval of the coding reserves on feelings

newlyNikolaos Panigirtzoglou, Managing Director of the Global Market Strategy at JPMorgan, stated that the opportunity for Trump’s strategic encryption receiving approval of Congress less than 50 %. He saw that if an American strategic encryption reserve is approved, it would be difficult to include icons other than bitcoin and ethereum.

This clearly explains the reason for the failure of the initial excitement after Trump announced the reserves to continue for a long time. Reports indicate that many merchants took profits near the $ 3 mark.

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Future XRP expectations: Understanding prevails

Currently, the price of XRP is $ 2.35. Analysts warn that in the event of increased pressure pressure, the price may decrease to $ 1.95.

According to analysts, if XRP can exceed $ 2.47 and acquire the purchase volume, it will be possible to move about $ 3.20. However, there is a strong resistance at the level of $ 2.99.

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