- XRP was on a tear before Trump’s tariffs hit the market.
- Even so, it’s down 16% over the past month.
- So what’s next for the Ripple-linked token?
XRP has a 44% chance of breaking its $3.40 all-time high in 2025 and trade at $4.
That’s according to a prediction market on betting platform Kalshi, where traders also give XRP a 35% chance of breaking the $3.50 barrier.
The news comes as US President Donald Trump’s tariffs against some of the country’s biggest trading partners rocked global markets this week.
“This has prompted investors to pull back from risk-on assets, with crypto following the broader retreat in equities,” Mena Theodorou, co-founder of crypto exchange Coinstash, said earlier this week.
Riskier assets like tech stocks and cryptocurrencies have felt the brunt of the chaos.
The tech-heavy Nasdaq 100 is down 3.7% over the past 24 hours, and the crypto market shed $180 million in the last 24 hours, a 6% decline in its total value to $2.75 trillion.
XRP’s outlook
XRP is one of the cryptocurrencies that have felt the pain from the White House’s trade policies.
The cryptocurrency jumped about 500% in the run-up to the US election to when Trump was inaugurated on January 20.
It’s fallen about 36% since the inauguration.
The Ripple-linked cryptocurrency trades at $2, down almost 9% over the past 24 hours and almost 16% over the past 30 days according to CoinGecko.
Despite the long-term bullishness, the short-term outlook is not as good. Polymarket participants put the token’s chances of being above $2.30 by Friday at just 1%.
In a separate prediction market, Polymarket punters give XRP a 40% chance of trading up on the month overall. They also gave it a 3% chance of reaching an all-time high this month.
Elsewhere, Polymarket bettors give the Ripple-linked cryptocurrency a 7% chance of reaching a new all-time high before July and a 29% chance of reaching a record by the end of 2025.
In a separate prediction market asking how low punters think XRP’s price will go in 2025, Kalshi bettors give an 80% chance that the token will drop below $2 this year.
Bullish signals
Ripple’s founders developed the XRP Ledger before making it open source in 2015. The company remains a contributor to it.
The fintech firm uses XRP to facilitate cross-border payments.
The organisation has had a few action-packed months.
In March, it announced that the Securities and Exchange Commission had dropped its yearslong lawsuit against it. It also announced a partnership with the United Arab Emirates that would have its products used for payments processing in Dubai.
At the same time, market watchers expect that the SEC will approve spot XRP exchange-traded funds in 2025. Polymarket punters put the chances of the agency will approve an XRP ETF this year at 73%.
JPMorgan project that those funds will see $8 billion in inflows in their first year of trading.
Andrew Flanagan is a markets correspondent for DL News. Have a tip? Reach out to aflanagan@dlnews.com.
