Ripple’s native token XRP touched the $1.50 level on Monday for the first time in two months. The last time it reached the target was in March, and it has remained stagnant on the charts. The leading altcoin surged more than 2.5% in the day’s trade, signaling optimism in the markets. This comes after a period of uncertainty due to the Iran-US conflict that rattled the global monetary sector. The US market could also react sharply on Monday due to the escalation.
Also Read: Is Institutional Adoption Of XRP A Trust Factor For Retail Investors?
Will XRP Reclaim the $2 Range Next?
Now that the ceasefire is ongoing, both countries are negotiating a way out to end the war. In the latest twist, US President Donald Trump has rejected the Iran peace proposal and wrote on Truth Social, “I don’t like it” and “totally unacceptable.” This signals that the conflict could reignite, and the Asian markets are already facing the brunt. Therefore, XRP’s rise on Monday could be short-lived due to the tone of the incident.
India’s Sensex fell to its lowest plunging more than 1,100 points after the opening bell, while Hong Kong’s Hang Seng index and Japan’s Nikkei also remain in the red. Oil prices also surged after Trump’s statements, and the market is bracing for another potential decline. XRP could be caught in the crosshairs of the development and roll back its gains. Turbulence is yet to end, and investors will have to face the jitters.
If Bitcoin dips from $80,000 to $70,000 this week, XRP could also go from $1.50 to $1.30. The risk of XRP heading south is much higher this week than the altcoin moving north. It is advised to take an entry position depending on how the Middle East situation plays out. Taking an entry position in a phased manner when the market dips is the most suitable and beneficial.
