The tension in the Middle East seemed to rise, but a surprising agreement between Iran and Israel suddenly brings peace. The financial markets react relieved, and that is also visible in the crypto races. XRP in particular makes an impression. But does that remain so?
Market relieved after agreement between Iran and Israel
It seemed to get out of hand. Iran attacked an American basis in Qatar, and investors held their breath. But just before midnight it turned sentiment. Donald Trump posted on Truth Social that Iran and Israel have concluded a temporary ceasefire.
“A complete and total ceasefire has been closed,” said Trump. He would start six hours after his message and last twelve hours. “It will be considered the end of the war.”
The cryptomarkt responded immediately. XRP was around $ 2.03 at that time, but within a few hours the race shot to 2.16. XRP is now at $ 2.19. That is more than eight percent higher than a day earlier, with which the losses of the weekend were largely polished away.
Other crypto coins also showed big jumps. The Bitcoin course climbed 3.5 percent to $ 105,550. Ethereum (ETH) rose by 7.3 percent to $ 2,418. Solana (SOL) won more than eight percent and is now at $ 145.
XRP can reduce profit again
The crypto explosion was accompanied by substantial liquidations. According to Coinglass data, cryptop positions were liquidated in the last 24 hours for 491 million dollars. This concerned $ 376 million in short positions. Bitcoin was good for 161 million dollars, Ethereum for $ 140 million.
Despite optimism, the situation remains fragile. For XRP it is crucial to stay above the level of 2.13 to 2.15 dollars. Technically, the market structure looks positive and the trade volume is strong, but the rapid pace of the increase increases the chance of profit. A new correction is lurking.
Source: https://newsbit.nl/xrp-stijgt-8-na-wapenstilstand-tussen-iran-en-israel-cryptomarkt-opgelucht/
