XRP rallies 10% as US–Iran peace deal boosts risk appetite – Crypto News – Crypto News
Connect with us
XRP rallies 10% as US–Iran peace deal boosts risk appetite XRP rallies 10% as US–Iran peace deal boosts risk appetite

Cryptocurrency

XRP rallies 10% as US–Iran peace deal boosts risk appetite – Crypto News

Published

1 month ago

on

Key takeaways

  • Ripple’s XRP is up nearly 11%, making it the second-best performer among the top 10 cryptocurrencies.
  • The coin could extend its rally past the $1.366 resistance level. 

XRP approaches $1.30

Cryptocurrency markets remained broadly higher on Monday, with Bitcoin (BTC) leading gains as it climbed above the $66,000 mark.

The positive momentum extended across major altcoins, with Ethereum (ETH) trading above $1,800 and XRP trading above $1.250. 

The rally comes as investor sentiment improves following reports that the United States and Iran have reached a preliminary peace agreement aimed at ending hostilities in the Middle East.

The easing of geopolitical tensions has encouraged investors to rotate back into risk assets, supporting a broad-based recovery across digital asset markets.

Officials from both countries have confirmed progress toward a peace deal that could significantly reduce tensions in the region.

Iran’s deputy foreign minister stated on state television that the agreement is expected to be formally signed on Friday. Meanwhile, Tehran’s senior military leadership described the development as a major victory.

Although the full details of the agreement have not yet been released, CNN reported that the ceasefire initiated in early April will likely be expanded in both scope and duration, allowing for an additional 60 days of negotiations.

One of the most closely watched aspects of the agreement is the potential reopening of the Strait of Hormuz, a critical global shipping route for oil and energy supplies.

Iran’s National Security Council announced that the U.S. naval blockade would be lifted immediately under the agreement and that military operations would cease across multiple fronts, including the conflict involving Lebanon.

However, geopolitical risks have not entirely disappeared. Reports from Lebanon’s National News Agency indicate that Israel has expanded military operations in southern Lebanon, highlighting that regional tensions remain a factor for global markets.

XRP targets the $1.366 resistance level

The improving geopolitical backdrop has helped strengthen sentiment across the cryptocurrency market.

Evidence of this shift can be seen in the Crypto Fear & Greed Index, which rose to 20 on Monday. While the index remains in the “Extreme Fear” zone, the reading marks a notable improvement from 18 the previous day and just 8 a week earlier.

At press time, XRP is trading at $1.267, up by nearly 11% in the last 24 hours. The token remains trapped beneath several important technical resistance levels, indicating that sellers continue to dominate the larger trend even as momentum indicators begin to stabilize.

Although XRP remains under pressure, some technical signals indicate that downside momentum may be easing.

The Moving Average Convergence Divergence (MACD) histogram has turned slightly positive on the daily chart, hinting at the possibility of a developing recovery.

However, the Relative Strength Index (RSI) has surged to 77, heading into the overbought territory. 

For XRP to build a stronger recovery, buyers must overcome several key resistance zones. The first major resistance is at $1.28, the 50-day EMA.

A surge above this level could see XRP extend its rally towards higher supply zones at $1.38 and $1.59. 

XRP/USD 4H Chart

On the downside, XRP’s first major support level sits near the lower Bollinger Band around $1.03.

Below that, the psychologically important $1.00 level represents a key demand zone that could attract buyers if selling pressure intensifies.

Share this article
Categories
Tags

Related Topics:
Continue Reading

Trending

XRP rallies 10% as US–Iran peace deal boosts risk appetite XRP rallies 10% as US–Iran peace deal boosts risk appetite

Cryptocurrency

XRP rallies 10% as US–Iran peace deal boosts risk appetite – Crypto News

Published

1 month ago

on

Key takeaways

  • Ripple’s XRP is up nearly 11%, making it the second-best performer among the top 10 cryptocurrencies.
  • The coin could extend its rally past the $1.366 resistance level. 

XRP approaches $1.30

Cryptocurrency markets remained broadly higher on Monday, with Bitcoin (BTC) leading gains as it climbed above the $66,000 mark.

The positive momentum extended across major altcoins, with Ethereum (ETH) trading above $1,800 and XRP trading above $1.250. 

The rally comes as investor sentiment improves following reports that the United States and Iran have reached a preliminary peace agreement aimed at ending hostilities in the Middle East.

The easing of geopolitical tensions has encouraged investors to rotate back into risk assets, supporting a broad-based recovery across digital asset markets.

Officials from both countries have confirmed progress toward a peace deal that could significantly reduce tensions in the region.

Iran’s deputy foreign minister stated on state television that the agreement is expected to be formally signed on Friday. Meanwhile, Tehran’s senior military leadership described the development as a major victory.

Although the full details of the agreement have not yet been released, CNN reported that the ceasefire initiated in early April will likely be expanded in both scope and duration, allowing for an additional 60 days of negotiations.

One of the most closely watched aspects of the agreement is the potential reopening of the Strait of Hormuz, a critical global shipping route for oil and energy supplies.

Iran’s National Security Council announced that the U.S. naval blockade would be lifted immediately under the agreement and that military operations would cease across multiple fronts, including the conflict involving Lebanon.

However, geopolitical risks have not entirely disappeared. Reports from Lebanon’s National News Agency indicate that Israel has expanded military operations in southern Lebanon, highlighting that regional tensions remain a factor for global markets.

XRP targets the $1.366 resistance level

The improving geopolitical backdrop has helped strengthen sentiment across the cryptocurrency market.

Evidence of this shift can be seen in the Crypto Fear & Greed Index, which rose to 20 on Monday. While the index remains in the “Extreme Fear” zone, the reading marks a notable improvement from 18 the previous day and just 8 a week earlier.

At press time, XRP is trading at $1.267, up by nearly 11% in the last 24 hours. The token remains trapped beneath several important technical resistance levels, indicating that sellers continue to dominate the larger trend even as momentum indicators begin to stabilize.

Although XRP remains under pressure, some technical signals indicate that downside momentum may be easing.

The Moving Average Convergence Divergence (MACD) histogram has turned slightly positive on the daily chart, hinting at the possibility of a developing recovery.

However, the Relative Strength Index (RSI) has surged to 77, heading into the overbought territory. 

For XRP to build a stronger recovery, buyers must overcome several key resistance zones. The first major resistance is at $1.28, the 50-day EMA.

A surge above this level could see XRP extend its rally towards higher supply zones at $1.38 and $1.59. 

XRP/USD 4H Chart

On the downside, XRP’s first major support level sits near the lower Bollinger Band around $1.03.

Below that, the psychologically important $1.00 level represents a key demand zone that could attract buyers if selling pressure intensifies.

Share this article
Categories
Tags

Related Topics:
Continue Reading

Trending