XRP Break $2 Mark after President Trump announced Israel-Iran Ceasefire

President Donald Trump said on Truth Social Monday night that Israel and Iran had reached a "Complete and Total Ceasefire

Quick overview

  • President Trump announced a 'Complete and Total Ceasefire' between Israel and Iran, following what he termed 'THE 12 DAY WAR.'
  • The announcement led to a 6% spike in the value of the Ripple token (XRP), which broke the $2 resistance line.
  • The ceasefire is set to begin six hours after the announcement, with Israel joining twelve hours after Iran's initial ceasefire.
  • Despite a strong interest in XRP-related products, exchange reserves have fallen by nearly 21%, indicating potential sell-side pressure.

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President Donald Trump said on Truth Social Monday night that Israel and Iran had reached a “Complete and Total Ceasefire” after what he called “THE 12 DAY WAR,” which caused the Ripple token to spike in value. XRP was up 6% the day after breaking the $2 resistance line.

 

According to his post, the ceasefire will begin about six hours after the announcement, once both nations have “wound down and completed their in-progress, final missions.” Israel will join the ceasefire twelve hours after Iran starts the initial 12-hour ceasefire.

Trump declared that the war would “officially” come to an end.  Trump said opposing sides will remain PEACEFUL and RESPECTFUL during each ceasefire period. It was announced a few days after we bombed three nuclear sites in Iran. High-yield bunker busters dropped by the US military hit Iran’s underground nuclear facilities.

The steady inflow trend reflects growing interest in XRP-related products, including spot Exchange Traded Funds (ETFs), and institutional interest in XRP and related products stabilized last week. Canada introduced three XRP spot ETFs last week, while the US Securities and Exchange Commission (SEC) continues to review several proposals. Webus International, based in China, invested $300 million; Trident Technologies, based in Singapore, invested $500 million; and VivoPower, based in London, invested $121 million in XRP-focused treasury funds.

These funds have been directed toward the XRP Ledger and decentralized finance (DeFi). Fundamentally, XRP remains strong; however, as of May 12, exchange reserves fell by nearly 21% to $2.3 billion from $3 billion, according to CryptoQuant.

The Exchange Reserves metric counts coins in exchange wallets. The continued decline of this value indicates lower sell-side pressure, which could put XRP at risk of a sustained decline.

ABOUT THE AUTHOR See More
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks the financial markets with over 15 years of working experience in investment trading.

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