Ripple (XRP) price continues to recover above support at $2.00, trading at $2.23 as President Trump's comments stabilize markets.

Ripple (XRP) has regained momentum, trading at $2.23 with indications of a steady uptick as market participants exhibit a risk-on sentiment. This turnaround can be attributed partially to U.S. President Donald Trump's recent comments regarding Federal Reserve Chair Jerome Powell. Despite previous criticisms directed at Powell for his perceived slow response to interest rate cuts, Trump clarified on Tuesday that he does not intend to fire him. Trump's statement aimed at stabilizing the market, especially after a tumultuous period at the start of the month, where volatility hit major cryptocurrencies. This sentiment spillover is palpable as Bitcoin (BTC) and Ethereum (ETH) also reflect a bullish trend following Trump's remarks. XRP's support resilient around the psychological level of $2.00 has been a critical point; trading indicators such as the Relative Strength Index (RSI), which has crossed the centerline, suggest a positive outlook and possible bullish continuation. However, caution is warranted as open interest data from Coinglass points to increased speculation in XRP, with a notable rise in traders taking long positions. Should XRP decisively close above the 50 and 100-day Exponential Moving Averages, the path toward the psychological threshold of $3.00 seems plausible. On the contrary, a fall below these levels could lead to retesting of the $2.00 support and further decline to the 200-day EMA at $0.96. Moreover, the optimistic outlook is mirrored in the broader crypto market with meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) gaining traction, contributing to an overall bullish narrative. The narrative surrounding Trump's administration and his intervention on Fed policy further indicates economic uncertainties that ripple through both traditional and crypto markets. Analysts point to the volatility and interconnectedness of market movements related to political comments as a potential risk factor for investors traversing these markets. Investors are advised to conduct thorough due diligence, especially in light of rapid changes in sentiment driven by political discourse.