Why XRP (Ripple) Is Sinking Today
Since yesterday afternoon, the price of XRP (CRYPTO: XRP) has traded 5.6% lower, as of 1:12 p.m. ET today. There's no obvious reason behind the move, but a few events likely explain it.
Many cryptocurrencies were under pressure today, as momentum across the sector seemed to fade a bit this week. It could have to do with renewed focus on tariffs, as President Donald Trump's key Aug. 1 deadline approaches.
While the U.S. has struck several trade deals, Trump also recently said that reciprocal tariffs are not likely to go below 15%, which is higher than I think what many assumed the end rate would be. This level is still quite high and could result in higher inflation or other economic struggles.
Source Fool.com
