Ripple’s native token, XRP, surged by 10% today, outperforming most other altcoins and reaching $2.20. This rally is driven by multiple factors, including the easing of geopolitical tensions between Iran and Israel, increased whale accumulation, optimism around a potential XRP ETF, and progress in Ripple’s legal battle.
XRP Surges After Iran-Israel Ceasefire Agreement
On Monday, both Iran and Israel agreed to a ceasefire mediated by U.S. President Donald Trump. Israeli Prime Minister Benjamin Netanyahu confirmed the truce, while Iran’s Foreign Minister Abbas Araghchi stated that Iran would also cease fire, provided Israel does the same.
With reduced geopolitical tension, investor confidence returned, boosting risk appetite and driving altcoin prices higher — especially XRP. Data from Glassnode shows that wallets holding between 10,000 and 100,000 XRP have been steadily accumulating since December 2024, despite the ongoing geopolitical turmoil.
These mid-tier wallets now hold over 7.34 billion XRP, up from 6.8 billion a year ago, indicating strong belief in XRP’s long-term potential and a strategy of buying dips during uncertainty.
Their accumulation helped stabilize XRP’s price and allowed it to rebound faster once markets regained confidence.
XRP ETF Optimism Grows
There is now a 90% chance that the SEC will approve a spot XRP ETF, further fueling investor optimism and contributing to the rally.
Where Is XRP Headed Next?
Today’s rally began at a critical support zone between $1.82 and $1.92 — a range defined by the 50-week exponential moving average and the lower boundary of a descending triangle pattern.
This same level triggered a 65% surge in early April, pushing XRP toward the triangle’s upper trendline.
However, descending triangles are typically considered bearish reversal patterns during uptrends. A break below the lower trendline could lead XRP down to $1.10.
On the other hand, a breakout above the upper trendline would invalidate the bearish scenario and open the door to further gains.
XRP is currently at a crucial technical level. While fundamentals and sentiment remain positive, the next decisive move will depend on whether it breaks out above or falls below the triangle pattern.
