{"id":40434,"date":"2025-06-06T11:35:22","date_gmt":"2025-06-06T11:35:22","guid":{"rendered":"https:\/\/quickassetsmarket.com\/index.php\/2025\/06\/06\/xrp-slips-2-5-to-2-14-as-trump-musk-clash-triggers-broader-crypto-selloff\/"},"modified":"2025-06-06T11:35:22","modified_gmt":"2025-06-06T11:35:22","slug":"xrp-slips-2-5-to-2-14-as-trump-musk-clash-triggers-broader-crypto-selloff","status":"publish","type":"post","link":"https:\/\/quickassetsmarket.com\/index.php\/2025\/06\/06\/xrp-slips-2-5-to-2-14-as-trump-musk-clash-triggers-broader-crypto-selloff\/","title":{"rendered":"XRP slips 2.5% to $2.14 as Trump-Musk clash triggers broader crypto selloff"},"content":{"rendered":"
<\/div>\n

XRP is hovering at a critical price point after falling 2.51% to $2.14, reflecting growing unease across the crypto market. <\/p>\n

The drop comes amid a steep market-wide pullback on June 6 that erased nearly 5% from the total capitalisation of digital assets.<\/p>\n

<\/figure>\n

Source: CoinMarketCap<\/a> <\/p>\n

Fuelled by an escalating political standoff between President Donald Trump and Tesla CEO Elon Musk, investors have begun exiting longer positions in favour of short-term trades. <\/p>\n

XRP, with its high liquidity, was among the hardest hit, and current chart patterns suggest further declines if the support at $2.07 fails to hold.<\/p>\n

Trading volume jumps 80% as open interest slides<\/h2>\n

XRP\u2019s 24-hour trading volume surged to $2.97 billion, marking an 80% increase. This coincided with a 3.7% drop in open interest, according to data from CoinGlass. <\/p>\n

The combination of high volume and falling open interest indicates an exodus of leveraged long positions. Traders are shifting to short-term plays as uncertainty intensifies.<\/p>\n

Technical indicators are confirming the trend. The token has slipped below its 20-day moving average and is now trading near the lower Bollinger Band at $2.07. <\/p>\n

This level has acted as support in the past, and a decisive break could accelerate losses. <\/p>\n

The relative strength index (RSI) stands just under 40, signalling weak buying momentum without yet reaching oversold territory.<\/p>\n

MACD remains negative, adding to bearish pressure, while stochastic RSI and other short-term oscillators show neutral readings. <\/p>\n

The 10-day through 100-day moving averages are all sloping downward, with the 200-day EMA at $2.08 emerging as the next key level for bulls to defend.<\/p>\n

Political tensions rattle investor sentiment<\/h2>\n

The broader market downturn was driven by political friction at the highest levels of US leadership. <\/p>\n

On June 5, tensions escalated between Trump and Musk<\/a>.<\/p>\n

Musk\u2019s criticism of the administration\u2019s new federal spending bill was met with retaliation from the Trump adminstration.<\/p>\n

The spat intensified further when Musk publicly linked Trump to Jeffrey Epstein case files, calling for his impeachment. <\/p>\n

Trump responded by saying Musk had \u201cgone crazy.\u201d<\/p>\n

Following the clash, Tesla shares tumbled 14%.<\/p>\n

The political fallout has unnerved investors, who see increasing uncertainty around federal policy and business continuity. <\/p>\n

Cryptocurrencies, already prone to volatility, were quick to reflect the shift in sentiment.<\/p>\n

Legal and institutional drivers remain in play<\/h2>\n

Despite the pullback, investors are watching June 16 closely. That\u2019s when a major development is expected in the long-running Ripple v SEC lawsuit, which has been a significant overhang for XRP.<\/p>\n

A potential settlement could resolve years of regulatory ambiguity and lift sentiment.<\/p>\n

In parallel, corporate and institutional demand for XRP is on the rise. <\/p>\n

VivoPower recently announced it had added $121 million worth of XRP to its treasury, while Chinese firm Webus International said it would allocate $300 million to XRP reserves.<\/p>\n

Nasdaq-listed Hyperscale Data\u2019s subsidiary, ACG, also plans to acquire up to $10 million worth of XRP by the end of 2025.<\/p>\n

Meanwhile, multiple XRP ETF filings await regulatory approval. Bitwise, Grayscale, and others have submitted applications, with Franklin Templeton\u2019s decision due on June 17. <\/p>\n

A favourable outcome could further legitimise XRP in the eyes of traditional investors and improve demand in the medium term.<\/p>\n

The post XRP slips 2.5% to $2.14 as Trump-Musk clash triggers broader crypto selloff<\/a> appeared first on Invezz<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

XRP is hovering at a critical price point after falling 2.51% to $2.14, reflecting growing unease across the crypto market. The drop comes amid a steep market-wide pullback on June 6 that erased nearly 5% from the total capitalisation of digital assets. Source: CoinMarketCap Fuelled by an escalating political standoff between President Donald Trump and <\/p>\n","protected":false},"author":1,"featured_media":40435,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-40434","post","type-post","status-publish","format-standard","has-post-thumbnail","category-investing"],"_links":{"self":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts\/40434","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/comments?post=40434"}],"version-history":[{"count":0,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts\/40434\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/media\/40435"}],"wp:attachment":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/media?parent=40434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/categories?post=40434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/tags?post=40434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}