Ripple (XRP) could not keep its momentum and turned bearish after reaching an intraday low of $0.4936 on Saturday. Now XRP has bounced back, trading near the $0.513 mark but continues to be under bearish sentiment. This decline is attributed to:
Concerns about Tether in the market: Pulled down the confidence in the whole crypto ecosystem with the help of ongoing investigations into its operations.
SEC’s ongoing litigation: Investor concerns are compounded by the unresolved litigation between Ripple and the SEC as well as the SEC’s dragging appeal against Ripple.
Upsurge in geopolitical risks: Moreover, the rising tensions, especially between Israel and Iran, have made investors seek sanctuary assets thereby putting additional stress on the crypto universe.
Ripple’s short-term forecast remains pessimistic as negative market sentiment continues to hamper its performance.
Rising Middle East tensions hurt XRP and the crypto space
The situation in the Middle East has grown out of control as Israel has recently launched airstrikes on Iran following a wave of Iranian attacks.
Even though the situation has escalated, Iranian officials downplayed its impact saying that there was minimal damage and that there has been no interruption to day to day life in Tehran.
The geopolitical developments of this nature are influencing the crypto market including, XRP. Most of the time, investors tend to move their assets around during such conflicts and thus cut down on the demand for cryptocurrencies.
And Ripple's still unresolved lawsuit with the SEC just makes it worse and adds to the general risk-averse mood of the market.
These geopolitical and regulatory factors put together create an unfavorable situation for XRP and for other cryptocurrencies as well resulting in relatively thin trading and hence greater volatility.
Ripple vs SEC: How the Legal Rift is Fuelling XRP’s Status and Trading Activities
Notice, the legal tussle involving Ripple and the US SEC over the crypto XRP increases in accusatory intensity, with the SEC now establishing that it wishes to appeal the court decision until 15 January, 2025.
This comes after a court upheld that Ripple and its executives acted legally in promoting some parts of XRP and did not break any laws regarding the sale and purchase of securities.
But the SEC is expected to appeal this decision which attempts to focus on these specific sales of XRP tokens which were identified as securities and would likely have consequences on the whole cryptocurrency industry.
However, some of them believe that the SEC’s appeal is a strategy to delay progression while for legal experts the period fits to what is appropriate in such scenarios.
A Ripple victory may set the stage for the much-needed regulatory clarity in the crypto space which may at least alleviate some of the prickly concerns that such companies encounter. The quest for XRP ETFs backed by Ripple is also indicative of the fact that there is a large amount of interest from asset managers.
This case in many ways goes beyond Ripple and seeks to set the tone for regulations that will touch on many other cryptocurrencies which investors would be wise to watch for any news.
XRP Sits Near Critical Support Level Adverse Market Pressure
Ripple’s XRP continues to wallow in underperformance in the cryptocurrency trading market as its prices try to reclaim the June bottom charted weeks ago. The pivot point is located at $0.507 reinforcing XRP’s current stance of about $0.514.
Strong resistance has built around the $0.525 mark and another resistance extends to about $0.534. The bearish trend line above points to excessive supply however, a break of $0.525 would point to a reversal in momentum.
XRP has been and still is ranges between 50% and maybe mid 40% zones according to the RSI which suggests a mild oversold while the overhanging resistance is also effective with the 50 EMA residing close to $0.526.
Immediate Support: $0.507 acts as psychological support.

Resistance Levels: Resistance has been identified at $0.525 and the next major level sits at $0.534.
Market Sentiment: The trading environment appears to be restrained with the present RSI and the trendline resistance showing, and in the absence of key resistance levels, for a move up range.
#israeliran #IsraelIranWar $XRP

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The recent surge in hostilities between Israel and Iran has thrust global markets, including crypto, into a heightened state of uncertainty. In a significant military response, the Israeli Air Force targeted numerous critical sites within Iran, focusing on missile production centers, drone facilities, and launch bases. Israeli officials indicated that these actions specifically avoided nuclear facilities and oil installations, aiming exclusively at military targets.

The attack follows an October 1 Iranian missile offensive on Israel, after which Israel vowed decisive retaliation. According to U.S. media, Prime Minister Netanyahu had earlier assured President Biden that Israel's focus would be strictly military, steering clear of nuclear and oil infrastructures. While Israel has underscored its intent to align with U.S. perspectives, Netanyahu’s office shared a reminder on social media: “We consider U.S. viewpoints, but Israel’s actions will ultimately hinge on our own national interests.”

The New York Times reports that Iran, now expecting further Israeli strikes, has ordered heightened military readiness, though it seeks to avoid escalation. Iranian officials suggested a response would be limited unless Israeli actions cause extensive damage, in which case, Iran may respond forcefully—possibly launching 1,000 missiles.

With these developments, it’s crucial to note the historical cycles of conflict and their impact on global sentiment. Previous instances have shown that initial conflict triggers market risk-aversion, yet over time, as the conflict becomes prolonged, market reactions stabilize. Investors often adopt a “watch but move forward” approach, as evidenced by diminishing attention to ongoing global conflicts, such as the long-standing Russia-Ukraine war. This adaptability is a common trend, suggesting that, absent nuclear involvement, broader financial markets may resume normal operations as the immediate shock wears off.

Currently, Bitcoin and other cryptos have shown mild drops in reaction to these tensions, echoing the brief market retreat observed after Iran's October 1 strike. However, with the U.S. elections approaching, capital is expected to lean towards stability. Major financial entities, including BlackRock, continue to invest in Bitcoin, suggesting confidence in long-term growth despite temporary fluctuations.

Ultimately, while the geopolitical climate remains volatile, the market's resilience reflects a growing trend: even in the face of global unrest, financial strategies are unlikely to be disrupted for long. Investors are advised to observe these trends but remain vigilant, as immediate shocks often yield to enduring market rhythms over time.

(This is a professional interpretation intended solely for informational purposes and should not be considered investment advice.)

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TEL AVIV, Aug 18 - U.S. Secretary of State Antony Blinken arrived in Tel Aviv on Sunday on another Middle East tour to push for a ceasefire in Gaza but Hamas raised doubts about the mission just hours after he landed by accusing Israel of undermining his efforts.
The Palestinian militant group said it holds Israeli Prime Minister Benjamin Netanyahu responsible for "thwarting the mediators' efforts", delaying an agreement and exposing Israeli hostages in Gaza to the same aggression faced by Palestinians.
On his 10th trip to the region since the war began in October, Blinken will meet on Monday with senior Israeli leaders including Netanyahu, a senior State Department official said.
After Israel, Blinken will continue onto Egypt.
The talks to strike a deal for a truce and return of hostages held in Gaza were now at an "inflection point", a senior Biden administration official told reporters en route to Tel Aviv. "We think this is a critical time," the official said.
The mediating countries - Qatar, the United States and Egypt - have so far failed to narrow enough differences to reach an agreement in months of on-off negotiations, and violence continued unabated in Gaza on Sunday.
Israeli strikes killed at least 21 people in Gaza on Sunday, Palestinian health authorities said, including six children and their mother in an airstrike on a house in the central city of Deir Al-Balah. The youngest was aged 18 months, their grandfather Mohammed Khattab told Reuters as relatives later gathered around the bodies, wrapped in white shrouds.
What was their crime? ... Did they kill a Jew? Did they shoot at the Jews? Did they launch rockets at the Jews? ... What did they do to deserve this?" asked Khattab.
There was no immediate comment from the Israeli military. Israel has denied targeting civilians as it hunts down Hamas militants, accusing the group of operating from civilian facilities including schools and hospitals. Hamas denies this.
The Israeli military said it destroyed rocket launchers used to hit Israel from the southern Gaza city of Khan Younis, the scene of intense fighting in recent weeks, and killed 20 Palestinian militants.
In the occupied West Bank, where violence has escalated since the war in Gaza broke out in October last year, an Israeli man died from wounds sustained in an attack, according to a hospital spokesperson.

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CAIRO, Aug 10 - An Israeli airstrike on a Gaza City school compound housing displaced Palestinian families killed around 100 people, the Gaza Civil Emergency Service said on Saturday, while Israel said the toll was inflated and 19 militants were among the dead.
Video from the site showed body parts scattered among rubble and more bodies being carried away and covered by blankets. Empty food tins lay in a puddle of blood, and burned mattresses and a child's doll lay in the debris.
In another video, men prayed over a dozen body bags laid on the ground of the Tabeen school complex.
The Israeli strike drew condemnation from Arab states, Turkey, France, Britain and the European Union and an expression of deep concern from the U.S., which has been working with partners to prevent the 10-month-old Gaza conflict from escalating into a regional war.
"Yet again far too many civilians have been killed," U.S. Vice President Kamala Harris, said during a campaign stop in Phoenix when asked for her reaction to the Gaza City strike.
Reiterating U.S. calls, Harris, the Democratic presidential candidate running for election in November, told reporters: "We need a hostage deal and a ceasefire."
Gaza's Civil Emergency Service, which has a credible record in stating casualty numbers, and the Hamas-run government media office said in separate statements that the complex had been attacked while its occupants were performing dawn prayers.
"So far, there are more than 93 martyrs, including 11 children and six women. There are unidentified remains," Palestinian civil defence spokesperson Mahmoud Bassal told a televised press conference.
Tens of thousands of displaced Palestinians have sought shelter in Gaza's schools, most of which have been closed since Israel's war against Hamas began.
Around 350 families had been sheltering at the compound, Bassal said - some of the hundreds of thousands of Palestinians displaced by Israel's onslaught on Gaza.

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