The crypto market fell hard over the weekend after the United States and Israel jointly carried out military attacks on Iran. XRP fell 8.8%, Ethereum (ETH) lost 8.7% and Solana (SOL) even fell 10%. President Trump gave a speech shortly after the attacks announcing further escalation.
US and Israel launch joint attack on Iran
On the night from Friday to Saturday, Israel and the United States carried out air strikes on Iranian territory. Major explosions have been reported in Tehran and attacks are also reported to have taken place in Isfahan, Karaj and Kermanshah. Israel speaks of a “preemptive strike” and has declared a state of emergency.
President Trump then gave a speech from Mar-a-Lago. In it, he said the US and Israel will destroy Iran’s military capabilities through large-scale operations. Trump stated that bombs will fall everywhere and called on the Iranian people to take power as soon as the attacks stop.
Crypto market reacts broadly with losses of 8 to 10%
The blow hits the entire crypto market. XRP lost 8.8%, Ethereum 8.7% and Solana even 10%. Bitcoin (BTC) previously fell by 3% towards $63,000.
Altcoins such as XRP, Ethereum and Solana usually fall faster than Bitcoin in such situations. Investors sell their riskiest positions first, and altcoins are seen as riskier than Bitcoin.
Market awaits Iran’s response
The tone of Trump’s speech points to a long-term military operation. The next few hours will be decisive. If Iran takes retaliatory measures, selling pressure on the crypto market could increase further. When Wall Street opens on Monday, it will become clear how broad the impact is on traditional markets.
Source: https://newsbit.nl/xrp-ethereum-en-solana-crashen-tot-10-trump-wil-militaire-macht-iran-vernietigen/
