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XRP dropped 10% from Tuesday’s peak to two-month lows amid ongoing legal issues and the Middle East Crisis.

 

The geopolitical tensions from the Israel-Iran conflict lead investors to avoid riskier assets. As broader cryptocurrency markets retreat due to high geopolitical uncertainty, the token encounters technical resistance at $2.33.

The price of XRP has fallen to its lowest level in over a week, hitting $2.1 on Sunday before marginally rebounding to $2.15. The altcoin remains under pressure from geopolitical tensions and technical selling.

Judge Torres rejected the parties’ request for an indicative ruling in May, claiming that “the Court would deny the parties’ motion as procedurally improper if jurisdiction were restored to this Court.” The parties jointly filed a motion in Manhattan federal court to dissolve the injunction in their case and release the $125 million civil penalty currently held in escrow. They aim to avoid pursuing the appeal, which is the main goal of this motion.

A final settlement approved by the court would eliminate any remaining legal uncertainties, further increasing the already strong demand for the cryptocurrency XRP. Ripple faced allegations of $1.33 billion in unregistered XRP sales in a lawsuit initially filed in December 2020.

US President Donald Trump warned Tehran against attacking any US targets and asserted that the war could be resolved easily, leading to new attacks between Israel and Iran overnight into Sunday.

 Israeli rescue teams searched for survivors using flashlights and sniffer dogs as they combed through the debris of residential buildings destroyed in strikes after authorities reported that at least seven people, including children, had been killed,

The nuclear talks that Washington claimed were the only means to stop Israel’s bombing have been canceled by Tehran, while Prime Minister Benjamin Netanyahu has stated that Israel’s current attacks pale in comparison to what Iran will experience in the coming days. Trump declared in a message on Truth Social that “the full strength and might of the US Armed Forces will come down on you at levels never seen before if we are attacked in any way, shape, or form by Iran.”

He further stated that we can easily reach an agreement between Israel and Iran to put an end to this brutal war.

Trump provided no information about a potential agreement. Iran claims that 78 people were killed on Friday, the first day of Israel’s campaign, with more casualties reported, including 60 who died when a missile destroyed a 14-story apartment building in Tehran, 29 of whom were children.