XRP's price has shown significant growth against the backdrop of global news. The announcement of a ceasefire between Israel and Iran made by U.S. President Donald Trump has attracted investors' attention and impacted the cryptocurrency's value.
Ceasefire Announcement
XRP's price surged over 6% in the past 24 hours, crossing the $2.15 mark after U.S. President Donald Trump announced a 'Complete and Total Ceasefire' between Israel and Iran. The ceasefire is set to begin six hours after the announcement, allowing both nations to complete their final missions.
Investor Interest in Ripple
Apart from global politics, XRP's price rally is also driven by rising investor interest in Ripple. Last week, Canada launched three XRP spot ETFs, with several more under review by the U.S. SEC.
Market Changes for XRP
Investments from major global firms like Webus International and Trident Technologies, totaling over $900 million, are supporting XRP and new DeFi projects. However, XRP exchange reserves dropped by 21%, which may indicate lower liquidity.
The rise in XRP's price illustrates the cross-influence of global news and investor interest. Traders are advised to remain cautious, as market changes may affect future price movements.
