XRP price surged 7% on February 4, following US President Trump’s temporary halt on tariffs for Canada and Mexico. The price recovered from a low of $1.79, peaking at $2.78 according to TradingView data. This rally corresponds with a broader cryptocurrency market rebound, spurred by reduced trade uncertainties from the tariff pause, which is often perceived as a sign of economic stability. Notably, market participants are cautiously optimistic, anticipating potential bullish momentum for XRP after bouncing back from a year-to-date low of $1.76. However, there are warnings of a possible bull trap, as the price struggled to maintain support above the 50-day simple moving average. The Relative Strength Index (RSI) indicates increasing bearish pressure. Over the past three days, XRP investors have realized nearly $2 billion in profits, marking one of the highest profit realizations recorded in its history.

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