XRP price has decreased by 4% today, trading at $2.07, with strong resistance at $2.17 suggesting a potential drop to $1.60. Key reasons for this decline include macroeconomic uncertainty from US tariffs, restrictions on Nvidia exports impacting risk assets, and technical indicators signaling bearish momentum. The broader cryptocurrency market is also experiencing decline, with major cryptocurrencies like Bitcoin and Ethereum seeing losses exceeding 2%. On April 16, news regarding US-China trade talks added to market hesitation. The rising wedge pattern confirmed on XRP's chart indicates a bearish reversal, with the price testing crucial support levels at $2.00 and $1.90. Analysts warn that a significant drop could occur if the price falls below $1.90, potentially reaching as low as $1.73 or the wedge start at $1.60. The relative strength index (RSI) indicates increasing bearish sentiment, reinforcing concerns about further downward movement in XRP’s price.

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