XRP News Today: Crypto Market Rebounds 2.42% as Bitcoin Gains 5.7%

The crypto market has shown signs of recovery after a period of volatility triggered by geopolitical tensions and macroeconomic risks. Bitcoin (BTC), Ethereum (ETH), XRP, and Pi Network have all experienced a strong bounce back, indicating a potential shift in market sentiment. The cooling of geopolitical fears and the passage of options expiries have contributed to this stabilization, although macro risks remain a looming concern.

Bitcoin's price has been particularly volatile, dropping from an all-time high of $111,695 in May to below $102,000 in late June. This significant drop sparked sell-offs among investors, leading to a broader market correction. However, recent developments suggest that the market may be finding its footing. Ethereum, which has been under pressure due to Bitcoin's dominance, has also shown signs of recovery. The price of ETH has been influenced by the rising dominance of BTC, but recent movements indicate a potential rebound.

XRP, which had fallen below $2 due to global crypto sell-offs triggered by geopolitical tensions and rising oil prices, has also seen a resurgence. The token's price drop was part of a broader market sell-off, but recent bullish momentum suggests that investors are regaining confidence. The upcoming Pi Day 2 event on June 28, with anticipated developer announcements and the conclusion of a widely followed domain auction, could further boost the Pi Network's price. The event is expected to spark renewed bullish momentum, as major announcements on Pi Days have historically led to significant price movements.

Solana (SOL) and Axelar (AXL) are also in focus this week. Solana's price has formed a bullish flag pattern, indicating a potential rebound. The token unlocks worth over $255 million on Monday could introduce more tokens into the market, but the bullish pattern suggests that the price may retest the upper side of the flag at $187.30. Axelar, on the other hand, has been in a strong bearish downtrend but may see further downside as it trades below key technical support. The network will unlock tokens worth over $5.4 million on Friday, which could impact the price.

The overall market sentiment appears to be improving, with key cryptocurrencies showing signs of recovery. However, investors should remain cautious as macro risks and geopolitical tensions continue to pose challenges. The stabilization of the crypto market is a positive sign, but sustained recovery will depend on various factors, including regulatory developments and economic indicators.

One of the biggest confidence boosters for Bitcoin was news that MicroStrategy’s Michael Saylor purchased a staggering $1 billion worth of BTC, adding to institutional optimism. This heavyweight buyout set off a chain reaction, with altcoins like ETH, XRP, ADA, DOT, and Pi Network all catching a bid. The overall crypto market is showing signs of recovery, with the total market cap climbing to $3.12 trillion — up 2.42% in the last 24 hours. Bitcoin continues to lead the market, trading above $101,400 with a 5.7% gain over the past week. Ethereum follows with a solid 14.6% weekly rise, while altcoins like XRP, Solana, Dogecoin, and Cardano are posting double-digit weekly gains.

Hyperliquid (HYPE) surged over 22% this week, cementing its spot among the top performers. Despite the bounce, Altcoin Season Index remains low at 15/100 — suggesting Bitcoin dominance still rules this rally for now. With geopolitical fears cooling slightly and options expiries out of the way, crypto markets are stabilizing for now. But with macro risks still looming and ETF developments on the radar, traders are advised to stay alert while enjoying this bounce.