XRP News Today: Crypto Stocks Surge 12.10% as Iran-Israel Ceasefire Boosts Market

US-based crypto stocks experienced a significant surge on Tuesday, driven by the fragile ceasefire agreement between Israel and Iran. Despite reports of breaches from both sides, the truce provided a sense of relief to investors, leading to a rally in the crypto market. The announcement of the ceasefire by US President Donald Trump on social media played a pivotal role in reversing the previous losses in the crypto market. This unexpected development triggered a swift surge in the value of major digital assets, with Bitcoin leading the rebound by rising 1.20% to reclaim levels above $106,487. Other top digital assets by market capitalization also posted strong gains, with Ether spiking 1.99% and XRP gaining 1.92%.

The broader market also posted gains, with the S&P 500 closing up 1.11% on the day. Coinbase Global Inc. (COIN) was the best-performing S&P 500 stock for the day, closing the trading day up 12.10%. Meanwhile, crypto mining firm Riot Platforms spiked 8.09%, Marathon Digital rose 4.94%, and Michael Saylor’s Strategy (MSTR) gained 2.68%. Robinhood Markets, Inc. (HOOD) climbed 7.41%, coinciding with the launch of its new 1% crypto deposit match promotion, which began Tuesday and runs through July 7.

Not all crypto stocks shared the rally. Stablecoin issuer Circle Internet Group (CRCL) slid 15.49% during Tuesday’s trading, but the newly listed company is still up nearly 620% since its debut at $31 on June 6. The increasing interest in crypto stocks has other firms looking to go public, too. On June 23, it was reported that major global cryptocurrency exchange OKX is considering a public listing in the US following its relaunch in the country.

The sudden price spike caught many short sellers off guard, resulting in the liquidation of over $370 million worth of short positions across the crypto market. Traders betting against Ethereum suffered the most, with liquidations topping $119 million. The rapid response of the crypto market to the geopolitical event highlights the sensitivity of digital assets to such developments. Market analysts noted that while the ceasefire news has led to a rally, similar truces have historically been short-lived. However, the sharp rebound indicates that fear may have reached its peak, and many altcoins could be poised for further gains if tensions remain contained.

The surge in crypto stocks amid the fragile Iran-Israel ceasefire underscores the interconnectedness of global markets and the influence of geopolitical events on financial assets. The ceasefire saw crypto stocks surge on Tuesday, with the broader market also posting gains. The announcement of the ceasefire by US President Donald Trump on social media played a pivotal role in reversing the previous losses in the crypto market. This unexpected development triggered a swift surge in the value of major digital assets, with Bitcoin leading the rebound by rising 1.20% to reclaim levels above $106,487. Other top digital assets by market capitalization also posted strong gains, with Ether spiking 1.99% and XRP gaining 1.92%. The broader market also posted gains, with the S&P 500 closing up 1.11% on the day. Coinbase Global Inc. (COIN) was the best-performing S&P 500 stock for the day, closing the trading day up 12.10%. Meanwhile, crypto mining firm Riot Platforms spiked 8.09%, Marathon Digital rose 4.94%, and Michael Saylor’s Strategy (MSTR) gained 2.68%. Robinhood Markets, Inc. (HOOD) climbed 7.41%, coinciding with the launch of its new 1% crypto deposit match promotion, which began Tuesday and runs through July 7. Not all crypto stocks shared the rally. Stablecoin issuer Circle Internet Group (CRCL) slid 15.49% during Tuesday’s trading, but the newly listed company is still up nearly 620% since its debut at $31 on June 6. The increasing interest in crypto stocks has other firms looking to go public, too. On June 23, it was reported that major global cryptocurrency exchange OKX is considering a public listing in the US following its relaunch in the country. The sudden price spike caught many short sellers off guard, resulting in the liquidation of over $370 million worth of short positions across the crypto market. Traders betting against Ethereum suffered the most, with liquidations topping $119 million. The rapid response of the crypto market to the geopolitical event highlights the sensitivity of digital assets to such developments. Market analysts noted that while the ceasefire news has led to a rally, similar truces have historically been short-lived. However, the sharp rebound indicates that fear may have reached its peak, and many altcoins could be poised for further gains if tensions remain contained. The surge in crypto stocks amid the fragile Iran-Israel ceasefire underscores the interconnectedness of global markets and the influence of geopolitical events on financial assets.