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XRP Price: Crash or Rally Amid Israel-Iran War Tensions?
XRP price is battling geopolitical chaos—soaring on ceasefires, crashing on airstrikes. Now at $2.19, a bullish falling wedge suggests a rally to $2.65 is coming—unless war tensions flare again. Here’s what’s next.
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How the Iran-Israel War Impacts XRP Price
The Iran-Israel conflict will likely affect how the price of XRP performs in the near term. The impact will mirror how other assets, such as stocks, perform during periods of uncertainty when traders abandon more volatile assets like crypto and shift their focus to assets like gold.
For instance, on June 13, which was when the tensions between the two countries were at their peak, XRP price crashed from $2.27 to $2.08 within hours. Again, over the weekend, after reports that the US had struck nuclear sites in Iran, XRP once again crashed, with the price briefly dropping below $2 per CoinMarketCap data.
Conversely, after reports emerged that Iran and Israel were on the same page in a ceasefire deal earlier this week, the Ripple price rebounded from $2.01 to $2.21 as interest towards the altcoin surged.
Going by this historical data, it is clear that this conflict has a direct impact on the price of Ripple’s token. Therefore, if there is an escalation, traders should anticipate the XRP price to crash further. On the other hand, if there is a resolution and the risk appetite towards crypto assets returns, the price of Ripple will likely undergo a notable upward trend.
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Will XRP Crash or Rally Higher?
Currently, the conflict appears to be resolved due to the announced ceasefire, making it likely that the XRP price could rally higher. The emergence of a falling wedge pattern, which was confirmed after the weekend crash, saw the XRP breakout from a 7-month consolidation, indicating that bulls could take full control over the price action.
XRP is attempting to surge past the upper trendline resistance in this bullish pattern, which will confirm that a strong recovery may be imminent. If this breakout occurs, the key target lies at the 200-day SMA level of $2.37.
Overcoming this critical resistance at the 200-day SMA will confirm that the long-term trend is about to become bullish, and the price could target the highest point of this pattern, which lies at $2.65.
The RSI is currently attempting to cross above 50, but it is constantly facing rejection. If it can cross above this level, it will confirm that the momentum behind the XRP price performance is bullish, and this could pave the way for further gains.
XRP/USDT: 1-day Chart (Source: Tradingview)In summary, the XRP price is at a crucial point due to the tensions between Israel and Iran that have been moving crypto prices and causing a spike in volatility. If the situation becomes favorable for buyers looking for risk assets, it is possible that the price of Ripple rallies higher, but if the geopolitical situation worsens, the token could crash.
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Frequently Asked Questions (FAQs)
XRP price will likely face volatility during the ongoing Israel-Iran conflict. If there is a de-escalation, XRP price will rally, while growing tensions could cause a crash.
XRP price will likely rally as a falling wedge pattern appears and the token attempts to break out above the upper trendline.
The most critical resistance that the Ripple price faces is the upper boundary of the falling wedge pattern. If it breaks out, the price could surge to $2.65.
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