XRP News Today: Bitcoin Surges 10% to $108,000 on Israel Iran Ceasefire

Bitcoin's relief rally, sparked by the announcement of a ceasefire between Israel and Iran, saw the cryptocurrency surge above $108,000. This rally indicates sustained demand from bulls, despite increasing geopolitical tensions. Institutional investors have continued to buy, as evidenced by 11 consecutive days of inflows into US spot Bitcoin exchange-traded funds (ETFs), totaling $3.35 billion starting June 9. However, Bitcoin faces resistance at the all-time high of $111,980, and without a catalyst, it may remain within its current range.

Several major altcoins have also bounced off their recent lows but are struggling to find buyers at higher levels. Ether (ETH) turned up from $2,111 and reached the 20-day exponential moving average (EMA) of $2,473. The 20-day EMA is flattening out, and the relative strength index (RSI) is just below the midpoint, suggesting a balance between supply and demand. If the price rises above the moving averages, ETH could rally to $2,738 and then to $2,879. Conversely, a turn down from the 20-day EMA and a break below $2,323 could signal that bears are selling on rallies, potentially retesting the solid support at $2,111.

XRP's sharp bounce off the $2 support indicates bulls are vigorously defending the level. Both moving averages have flattened out, and the RSI is near the midpoint, signaling range-bound action between $2 and $2.65. The next trending move is likely to begin if buyers drive the price above $2.65 or sellers pull it below $2. A break below $2 could see XRP decline to $1.61, while a break above $2.65 could clear the path for a rally to $3 and then to $3.40.

BNB turned up from the support line of the descending channel pattern and reached the resistance line. If buyers do not give up much ground from the resistance line, the prospects of a break above the channel improve, with potential ascents to $675 and then to $698. Conversely, a break below $625 suggests bears are aggressively defending the resistance line, potentially tumbling to the support line near $580 and extending the stay inside the channel.

Solana (SOL) turned up from $126 and broke above the breakdown level of $140. The recovery is facing selling at the 20-day EMA of $147, but a shallow pullback increases the possibility of a break above the 20-day EMA. If that happens, SOL could climb to the 50-day simple moving average (SMA) of $160. Sellers will need to pull and sustain the price below the $140 support to prevent the upside, potentially dropping to $123 and eventually to $110.

Dogecoin (DOGE) rebounded off the $0.14 support but may face selling at the 20-day EMA of $0.17. If the price turns down sharply from the 20-day EMA, bears will attempt to pull DOGE below $0.14, potentially tumbling to the solid support at $0.10. Alternatively, if buyers push the price above the 20-day EMA, the next stop could be the 50-day SMA of $0.20, with sellers trying to halt the recovery and keep the pair inside the $0.14 to $0.21 range.

Cardano (ADA) rebounded off the $0.50 support but is likely to face selling at the moving averages. If the price turns down from the 20-day EMA of $0.61, it suggests bears are selling on every minor rally, increasing the risk of a break below the $0.50 support and potentially slumping to $0.40. Conversely, if buyers pierce the 20-day EMA, ADA could reach the 50-day SMA of $0.69, with sellers expected to defend the zone between the 50-day SMA and the downtrend line. If bulls prevail, it could signal a potential trend change.

Hyperliquid (HYPE) rebounded off the 50-day SMA of $33.37 and rose above the 20-day EMA of $37.13. If buyers maintain the price above the 20-day EMA, HYPE could surge to $42.50, with potential resistance between $42.50 and $45.80. On the downside, a break below the 20-day EMA signals a lack of buyers at higher levels, potentially falling to the 50-day SMA and later to the crucial support at $30.50.

Bitcoin Cash (BCH) turned up from the 20-day EMA of $450, indicating lower levels continue to attract buyers. The price has reached the overhead resistance of $500, where bears are expected to mount a strong defense. If buyers do not cede much ground to the bears, it increases the likelihood of a break above $500, potentially surging to $550. This positive view will be invalidated if the price turns down and breaks below the 50-day SMA of $424, potentially plunging to $375.

Sui (SUI) turned up sharply and reached the 20-day EMA of $2.94, where bears are posing a stiff challenge. The downsloping 20-day EMA and the RSI in the negative territory signal that bears hold the edge, with sellers trying to pull the price toward the $2.29 to $2 support zone. However, buyers are likely to arrest the decline and push the price above the 20-day EMA, potentially climbing to the 50-day SMA of $3.39 and suggesting the correction may be over.