XRP faces downside risks as funding rates stay negative and open interest drops. A crucial $2 support level could lead to further declines.

Given the clear pro-crypto emphasis of the Trump administration, the thinking now is that, whatever happens next, it will be in XRP's favor.

Shares of XRP (CRYPTO: XRP) are tumbling on Tuesday. The cryptocurrency lost 4.7% as of 3:20 p.m. ET and was down as much as 5.2% earlier in the day. The decline comes as the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) also posted losses amid growing economic concerns.