Crypto Chaos: Why Bitcoin, Ethereum, and XRP Prices Are Plummeting Today!

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Ah, the grand spectacle of politics! When Donald Trump, a man of many words and fewer filters, ascended to the presidency, the world held its breath, expecting a meteoric rise in cryptocurrency values. Alas, the hopes of many were dashed upon the rocky shores of trade tensions. In the first quarter, it seemed as if every cryptocurrency was on a downward spiral, like a sad balloon losing air.

Yet, as spring approached, optimism bloomed like a stubborn weed. The US and UK, in a rare moment of unity, struck a deal, and the coins danced joyfully, with Bitcoin soaring to a staggering $112K, buoyed by institutional investors who seemed to have misplaced their caution. Ethereum, too, basked in the glow of newfound hope, reaching $2737, while XRP flirted with $2.64.

But then, like a thunderstorm on a sunny day, came the news from Trump’s Truth Social, declaring that trade talks with the European Union were “going nowhere.” The market trembled, and in mere moments, Bitcoin plummeted below $108,500, Ethereum fell to $2510, and XRP sank to $2.31. It was as if the universe conspired to remind us that hope is a fickle friend.

Now, dear reader, the question lingers in the air: will the second quarter mirror the first, or is this merely a bump on the road to recovery? Stay tuned, for the plot thickens!

Trump’s Tariff Tango: A 50% Dance on June First!

In a speech that could only be described as a theatrical performance, Trump proclaimed that the European Union was “established to exploit Americans.” One could almost hear the collective gasp of disbelief. He lamented the EU’s trade barriers and corporate penalties, claiming they had led to a staggering trade deficit of over $250 billion annually. A true tragedy, indeed!

In a dramatic twist, he announced his intention to impose a 50% tariff on the EU, effective June 1. “Build in the US, and you’ll pay no tariffs,” he declared, as if he were a benevolent king offering a royal decree. This sudden shift in tone sent shockwaves through the market, disrupting the fragile peace that had been established with China.

BREAKING: President Trump announces 50% tariffs on the EU

The EU messed around and found out.

— Inevitable West (@Inevitablewest) May 23, 2025

As the dust settles, the market is left in a state of uncertainty, with bearish sentiments creeping in like an unwelcome guest.

Bitcoin (BTC): The Bullish Bear?

Despite the chaos, Bitcoin’s broader trend remains bullish, supported by strong fundamentals and institutional backing. However, in the short term, it finds itself at a precarious $108716, teetering on the edge of its all-time high. Will it hold? Or will it tumble back to the comforting embrace of $100K?


Should it break this level, the RSI indicates a retreat from the overbought zone, suggesting that caution is the name of the game.

Ethereum (ETH): The Reluctant Climber

At the dawn of 2025, Ethereum was on a downward trajectory, but as Q1 progressed, it found a strong foothold at $2710. However, as Q2 rolled in, this level became a formidable barrier, thwarting its ascent.

Since mid-May, Ethereum has attempted to leap over this hurdle but has faltered, much like a cat trying to jump onto a high shelf. With rising tensions with the EU, uncertainty looms large.


If Ethereum breaks its previous swing low of $2330, it may find support near the $2100 mark. Caution is advised, dear traders; FOMO is a treacherous companion!

XRP (XRP): The Uncertain Voyager

XRP, too, has felt the sting of Trump’s recent actions, experiencing a slight dip. The future remains uncertain, as tensions escalate. If XRP breaks its established volume profile level from Q4 2024, it may find itself at $2.06, a support level worth monitoring.


However, should XRP manage to break through its high volume profile level, a target of $3.40 could be on the horizon. The market, dear friends, is a fickle mistress!

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2025-05-23 17:56