XRP Slides on U.S.–China Tariff Jitters – Traders Eye $2.00 Line

Core Insights - XRP is currently trading around $2.35 after experiencing a significant drop due to market-wide shocks linked to U.S.-China trade tensions and cyberfraud network actions [1][4][7] Market Dynamics - The overall cryptocurrency market has seen a pullback, with altcoins suffering more than Bitcoin, which managed to hold its ground before surpassing the $110,000 mark [4][5] - XRP's open interest in derivatives has decreased to approximately $3.88 billion, indicating a reset in market risk [2] - A liquidity drought was reported during the peak of the sell-off, with thin order books across major cryptocurrencies [2][4] Price Levels and Trading Behavior - XRP has maintained a trading corridor between $2.30 and $2.60, with key levels at $2.00 for risk defense and $2.60 for reclaiming near-term supply [3][5] - Increased whale activity has been observed, with significant transfers of XRP to Binance, suggesting a shift in large wallet behavior towards selling or hedging [3] Future Indicators - Two key metrics to watch include exchange balances for XRP, which can signal new sell programs or limit supply, and the open interest and funding in derivatives, where a gradual rebuild is preferred [6] - Macro headlines continue to influence market sentiment, with potential support from stablecoin issuance and crypto ETF creations during risk rebuilds [7]