Cryptocurrency markets are back in action this week, with Bitcoin, Ethereum, and XRP all rising as sentiment fluctuates positively. After weeks of uncertainty, a combination of geopolitical relief and improving technical settings is driving this recovery.
Ceasefire talks raise risks
The main motivation is to reduce tension in the Middle East. Two weeks cease-fire Talks between the United States, Iran and Israel, along with previous talks on a longer-term agreement, have reduced concerns about a major escalation.
“Almost all previous points of contention between the United States and Iran have been agreed upon, but a two-week period will allow the agreement to be finalized and finalized.” Donald Trump wrote on social media.
As the US-Iran ceasefire calmed tensions, markets quickly returned to ‘risk on’ mode. according to saintBitcoin jumped above $72.7K and Ethereum topped $2,250, both hitting multi-week highs, while social sentiment turned bullish around a possible end to the conflict.
Other factors are driving the rise
Oil prices, which had previously risen due to fears of war, have now begun to calm down. This is a positive sign for cryptocurrencies. Higher oil prices typically lead to higher inflation and delay interest rate cuts, leading to tighter liquidity.
As oil prices decline, liquidity conditions improve, helping capital move back into cryptocurrencies and stocks, supporting the current rally.
Meanwhile, the Clarity Act is causing quite a stir. Currently, Senate committees are working on key provisions ahead of a potential vote, with timelines pointing to mid-2026 as a critical window. Pro-crypto Senator Bill Hagerty He said The committee was “very close” to starting work on the bill.
Cryptocurrency Rally Today: Bitcoin, Ethereum and XRP Price Action
Bitcoin is trading at around $71,600, up over 4%, and is now heading towards a key resistance level near $72,600. It has reclaimed the 50-day moving average near $70,500, turning it into support, while the RSI near 58 shows that buyers are still in control. A break above $72.6K could open the way towards $74,800.
Ethereum holds above $2,200 after a 6% weekly rise, reclaiming its 50-day moving average near $2,150. Momentum is improving, with the RSI around 60. If ETH breaks above $2380, it could extend towards $2575, while $2138 now acts as major support.
XRP is trading near $1.37, rebounding from the $1.30 level. It is approaching the 50-day moving average at $1.42, which is a crucial resistance level. Staying above $1.30 keeps the recovery intact, while a move above $1.42 could push it towards $1.45.
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