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Are Trump’s tariffs crashing XRP today?
Are Trump’s tariffs crashing XRP today? originally appeared on TheStreet.
It’s safe to say August didn't begin on a very august note for the crypto market, thanks to the latest tariff announcement made by President Donald Trump.
Whether the month will be as cruel as April, we will know in a few days, as the ongoing tariff war that began four months ago continues to rattle the markets.
XRP, the third-largest cryptocurrency, fell below $3, declining more than 5% in 24 hours in tandem with the other leading crypto assets.
The crypto market decline induced by the tariffs has sent traders into a panic-selling mode as more than $1 million short XRP positions have been liquidated within the last 4 hours, as per Coinglass.
Join the discussion with Scott Melker on Roundtable here.
However, the latest tariff announcement isn't the only reason behind XRP's dip. There are a few other factors also that are at play.
Over the last week, XRP has been treading within the $3.1-$3.3 price range and hasn't been able to break out. No wonder that it only took a sudden shockwave for the cryptocurrency to decline.
The movement of XRP tokens by Ripple co-founder Chris Larsen over the past few days has also been a cause of concern On July 24, the on-chain sleuth ZackXBT highlighted on X that an address linked to Larsen has transferred out 50 million XRP worth $175 million to four addresses since July 14.
Needless to say, the insider activity hasn't assuaged investment sentiment either.
Though XRP has soared more than 35% over the last month, the abovementioned factors have led to a sudden price decline for the asset.
XRP was trading at $2.94 at press time.
Disclaimer: The content above is intended for informational purposes only and should not be taken as financial advice. Do your own research before investing.
Are Trump’s tariffs crashing XRP today? first appeared on TheStreet on Aug 1, 2025
This story was originally reported by TheStreet on Aug 1, 2025, where it first appeared.
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