XRP has rebounded by 8%, reaching $2.58, as the cryptocurrency market recovers $30 billion in value following a sharp decline. The drop was initially triggered by President Trump's announcement of a 100% tariff on Chinese imports. Institutional buying has played a significant role in restoring market confidence. Analysts are closely monitoring XRP for a potential weekly close above $3.12, which would mark the strongest level since its inception. The cryptocurrency is currently trading within an ascending channel between $2.37 and $2.59, with a breakout above $2.57 indicating a possible near-term trend reversal.