Summary Points
- XRP surged over 13% in 24 hours, reclaiming the $1.28 level amid positive news on US-Iran conflict resolution, sparking market optimism.
- The recent rally followed a period of over 50% decline this year, with sentiment hitting lows in 2026, setting the stage for a potential relief rally.
- Large XRP wallets (holding 1M+ tokens) now control over 74% of supply, actively accumulating tokens, indicating strong whale support for a possible trend shift.
- Other altcoins like Zcash and Bittensor also saw significant gains, highlighting a broader market recovery driven by renewed investor interest.
XRP Rebounds After Sentiment Slump
Impressive Turnaround
Ripple’s XRP has made a strong comeback this week. According to Santiment, an on-chain analytics firm, the token jumped over 13% in one day. It regained the $1.28 level for the first time in two weeks. Traders reacted positively to news that the US and Iran conflict may be nearing resolution. This development reduced uncertainty and boosted optimism in risk assets.
Last January, XRP traded above $2.30. By June 11, it fell to $1.10 amid market struggles. Since then, it has started recovering amid improving sentiment. Santiment noted that the recent rally appeared after market fear reached lows in 2026. When fear dominates, markets often rebound as investors regain confidence.
Market Support and Challenges
The rally also comes with strong backing from large holders. Data shows wallets with over 1 million XRP hold more than 74% of the total supply. These whales added 1.53 billion tokens in the past six months. Meanwhile, technical analysts like CasiTrades highlight that the $1.30 resistance level remains critical. If XRP cannot break this barrier, it might fall back to support levels around $0.90.
However, the recent surge exceeds expectations, suggesting a possible trend reversal rather than a temporary rally. Traders remain cautious but optimistic about the market’s potential for further gains. The strength seen now could signal an important shift in sentiment after months of decline.
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