XRP surged nearly 11% in 24 hours to $1.267, making it the second-best performer among the top 10 cryptocurrencies. The rally came as the United States and Iran reached a preliminary peace agreement, with a formal signing expected Friday, Iranian officials confirmed. The deal includes a 60-day expansion of the April ceasefire and a potential reopening of the Strait of Hormuz for global shipping.
What the peace deal includes
Under the preliminary terms, the U.S. naval blockade in the region will be lifted immediately, and military operations are set to cease across multiple fronts, including Lebanon. But the picture isn't clean. Lebanon's National News Agency reported that Israel expanded military operations in southern Lebanon, directly contradicting the de-escalation claims in the deal. That tension could muddy the rally's staying power.
XRP's key test at $1.28
XRP now faces real technical resistance — the 50-day EMA at $1.28. If it breaks through, analysts see potential targets at $1.38 and $1.59. The broader sentiment is still fragile. The Crypto Fear & Greed Index ticked up to 20, an improvement from recent lows, but it's still stuck in the 'Extreme Fear' zone. That suggests the move so far is more about relief than conviction.
Bitcoin and Ethereum also ride the wave
Bitcoin climbed above $66,000 and Ethereum traded above $1,800, part of a broad market lift. The geopolitical détente gave risk assets room to breathe. The Strait of Hormuz reopening alone affects energy markets and shipping costs — factors that ripple into crypto sentiment in the Middle East and beyond.
The formal signing ceremony is set for Friday. Whether XRP can hold above $1.28 and push toward $1.38 may depend on whether the peace deal holds on the ground — and whether the Lebanon contradiction gets resolved before then.
