Washington, DC – XRP’s price has shown significant strength, surpassing $2.00 and rallying alongside major cryptocurrencies like Bitcoin, Ethereum, and Solana. President Donald Trump of the United States recently clarified that he has no plans to dismiss Federal Reserve Chair Jerome Powell, emphasizing the importance of proactive measures in lowering interest rates in order to stimulate economic growth.
Trump’s comments come after criticizing Powell for not acting swiftly enough to lower interest rates. Despite previous tensions, the President affirmed his support for Powell, stating that the media often sensationalizes events. The Federal Reserve has maintained steady interest rates since early 2025, with Powell expressing caution due to concerns over tariffs impacting the economy and potentially leading to increased inflation.
Following Trump’s remarks, the cryptocurrency market experienced a positive shift, with Bitcoin, Ethereum, and Solana all seeing gains during the American trading session. Talk of progress in tariff negotiations, including the possibility of a temporary deal with China followed by a comprehensive trade agreement within two years, further contributed to the market’s optimism.
XRP’s price is currently on the rise, aiming to break through the resistance near $2.22 as indicated by key Exponential Moving Averages. The Relative Strength Index (RSI) suggests bullish momentum, with the potential for XRP to breach the descending trendline and approach the $3.00 mark. Coinglass derivatives data shows an increase in open interest, signaling growing confidence in XRP’s upward trajectory.
However, the surge in open interest raises the possibility of a market correction as traders reevaluate their positions. It is advised to monitor XRP’s performance closely, particularly in relation to key moving averages, to assess the sustainability of the current uptrend. Failure to maintain support above $2.00 could result in further declines towards crucial demand zones at lower price levels.