XRP and Ethereum Price Prediction as Trump Seeks to Lower Key Tariffs

The XRP and Ethereum prices remained in a bear market today, February 13, as the recent sell-off gained steam ahead of the upcoming US inflation report. The two coins also slipped after reports emerged that Donald Trump was considering cutting key steel and aluminum tariffs to address the ongoing cost-of-living crisis.

XRP price was trading at $1.3685, down sharply from the all-time high of $3.6580, while ETH was trading at $1,960, a few points above the year-to-date low of $1,750.

Donald Trump is Considering Cutting Steel and Aluminum Tariffs 

Ethereum and XRP prices stabilized as market participants waited for the upcoming US consumer inflation report, which will shed more color on the cost-of-living situation in the country.

Economists polled by Reuters and Bloomberg expect the upcoming report to show that the headline and core consumer inflation dropped to 2.5% and 2.6% in January this year. 

Still, while inflation has stabilized, there are signs that most people in the United States are still concerned about the cost of living, with Donald Trump’s polling on the issue being much lower.

According to Bloomberg, Trump is now considering reducing steel and aluminum tariffs, a move that may lead to lower inflation in the future. These tariffs now stand at about 50%, and the upcoming adjustments could take them much lower in the coming weeks or months.

The new tweaks come as a report by the New York Federal Reserve warned that American firms were shouldering the tariff burden, contrary to Trump’s statements that they are paid by foreigners.

In theory, lowering of these tariffs will be bullish for the XRP and Ethereum prices as it will lead to lower inflation, which will push the Federal Reserve to cut interest rates soon.

Ethereum Price Prediction: Technical Analysis 

The weekly timeframe chart shows that ETH price has tanked in the past few months, moving from a high of $4,950 to the current $1,950.

A closer look shows that the Ethereum price is showing some bottoming signs. The Relative Strength Index (RSI) has tanked to the oversold level, its lowest level since April last year.

At the same time, the Average Directional Index (ADX) has slumped from 33 in September last year to 21, a sign that the downtrend is losing momentum. 

Ethereum price has also formed an inverted head-and-shoulders, a common bullish reversal sign in technical analysis. Therefore, the most likely ETH price forecast is bullish, potentially to the key resistance level at $3,000. 

XRP Price Technical Analysis 

The weekly chart shows that the coin has been in a strong downward trend in the past few months as the crypto winter has accelerated.

On the positive side, the coin has formed a falling wedge pattern, which is made up of two descending and converging trendlines. It is one of the most common bullish reversal signs in technical analysis.

The Relative Strength Index (RSI) has dropped to 30, the lowest level since 2022. Ripple has always rebounded whenever it moved to these levels.

Therefore, the token could be about to bottom, which may lead to more upside, potentially to the key target at $2. A drop below the year-to-date low of $1.1 will point to more downside to $1.