Why XRP Could Target $5-$8: Analyst’s Elliott Wave Theory Explained

• XRP token shot up a massive 3.48% in the past day with a 50% surge in volume. 
• Trump’s April 2 “reciprocal tariffs” could be more targeted than initially feared. 
• A breakout for XRP above the $2.61 price level could trigger a breakout rally for the altcoin.

XRP has jumped 3.48% in the past 24 hours to $2.46, accompanied by a strong 48.84% surge in trading volume, CoinMarketCap data shows. 

Driving this rally is a wave of optimism across the crypto market, sparked by easing worries over US President Donald Trump’s planned “reciprocal tariffs” from April 2nd, and the SEC’s move in the Ripple Labs case. Reports suggest the tariffs could be less severe than expected, and the SEC’s decision adds regulatory clarity.

Optimism Surrounding Reciprocal Tariffs

Bloomberg reported potential exemptions for some countries and that existing tariffs on steel and other metals might not be cumulative. This news has eased investor concerns, improving overall market sentiment.

Previously, Trump’s aggressive trade policies often unsettled financial markets, causing downturns in both equities and cryptocurrencies. In February, Bitcoin (BTC) notably dropped 17.6%, falling…

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