The $XRP price shot up on the hope of Iran-U.S peace talks and led to a fresh wave of activity in the cryptocurrency market. This boosted investor confidence as the XRP surged 7% in the 24 hours up to 1.46.
The trading activity also surged to the level of 4.1billion, which is an increment of 39.71%. The broader crypto market crashed hard against recent lows and increased by 6.28 percent, which increased total capitalization to 2.49 trillion. The price of bitcoin surged by 7 per cent and it is above the mark of 73,000. Ethereum also gained ground and passed $2,100 following robust purchasing behavior.
Markets Respond as Iran Wants to negotiate with U.S.
The diplomatic signals between Iran and U.S. sparked a new rally in the major cryptocurrency markets and lifted the mood in the market.
Iran was also reported to be urging the United States to call a meeting that would see the war to an end.
The report compiled by the New York times reports that this message was delivered through the intelligence channels of the Iranian people. The officials claim that the message had been relayed to the Central Intelligence Agency through the mediators of the spy agency in Iran.
U.S. President Donald Trump earlier has admitted to make the contact, though, he said, negotiations might be postponed. It was also a positive indicator that investors hastened back to digital assets markets as geopolitical tension had reduced.
In the meantime, XRP events kept happening, with Doppler Finance signing an agreement with crypto custodian Hex Trust. Wrapped XRP in the Doppler system of institutional blockchain participants will be incorporated in the partnership as a reward.
It also initiates regulated custody services to enable the liquidity of XRP in several blockchains networks. The project will also augment the XRP utility outside of the XRP Ledger through secure multi-chain accessibility.
XRP ETF Market Strengthens with new inflow of 7.53million dollars
Investor demand in XRP spot exchange-traded funds was also renewed, and on Tuesday, total net inflows amounted to 7.53 million. Bitwise XRP ETF was the busiest with a daily inflow of $6.08 million on the previous day according to the SoSoValue data.
Its cumulative net inflows have grown to a total of 10.77 million, and this has established its niche in the new XRP funds that have been launched in the recent past. This was then succeeded by the Canary XRPC ETF that had inflows of $1.45 million or the same in the last day. Overall, as of the information, XRP spot ETFs have an asset of 1.001 billion and cumulative inflows of 1.255 billion.
XRP Price Prediction: Is $1.5 Next?
The XRP price came back to the point of 1.45 since buyers had provided defence to the support zone of 1.40.
The RSI was increasingly approaching 66, which is the sign of the positive demand, although there may be further upward movement. During this period the MACD indicator registered another bullish cross over on the increase of the histogram bars which signifies the rise in the buying pressure.
As long as the price of the XRP shoots up to above 1.50 above the decisive point, the next target would be near the 1.60 resistance point. Loss of even more than that of 1.45 could push the price back to the support of 1.40 again.