XRP Soars on Israel-Iran Peace News—But the Chart Shows a Dangerous Trap

XRP's price just got a geopolitical adrenaline shot—but traders should check the technicals before celebrating.

The Pump That Stings

Ripple's token ripped higher after Middle East tensions cooled, proving crypto still moves on headline whiplash. Classic 'buy the rumor, sell the news' behavior—except this time, the rumor was literal warfare.

Technical Trap?

That ascending wedge pattern isn't inspiring confidence. Volume's fading faster than a Wall Streeter's morals, and RSI's flirting with overbought levels. Feels like the market's setting up a classic 'pump and dump'—retail always arrives late to the party.

The Bottom Line

Geopolitics giveth, and TA taketh away. Maybe this time is different (said every bagholder before the crash).

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Whales Keep Buying XRP Despite the Chaos 

While headlines flashed red over the past week, XRP whales stayed steady. On-chain data from Glassnode shows mid-sized holders—wallets with 10,000 to 100,000 XRP—have quietly added to their stacks. Since late 2024, these addresses have grown their holdings from 6.8 billion to over 7.3 billion XRP. Their consistent buying helped absorb the weekend’s shock and fueled the sharp rebound once markets stabilized.

XRP’s Support Levels Hold Firm 

Technically, XRP’s bounce wasn’t just about the news cycle. The token found solid footing at the $1.82 to $1.92 range, a critical support zone where its 50-week EMA meets the bottom of a descending triangle pattern. This same setup sparked a 65% rally earlier this year. Bulls are hoping for a repeat.

Descending Triangle Still Looms Large on XRP’s Chart 

But it’s not a done deal. Descending triangles are usually bearish continuation patterns when they appear during an uptrend. If XRP breaks below that lower trendline, the next stop could be as low as $1.10. On the flip side, a clean breakout above the triangle’s upper boundary could open the door to $3.36—its 2025 high and a potential 55% upside from current levels.

At the time of writing, XRP is sitting at $2.18.