XRP price surged over 11.25% in 24 hours on June 24th, breaking through $2.21. This appears to be driven by signals of easing tensions between Israel and Iran, suggesting a stabilization of the Middle Eastern geopolitical situation.
Particularly, XRP's recent rebound shows recovery at technical support levels, raising expectations for potential further increases. Some analyses suggest the possibility of breaking through this year's high of $3.36.
On-chain data is also supporting the improved investment sentiment. It has been confirmed that medium-sized whale addresses have been steadily accumulating XRP recently. This is interpreted as a strategic positioning anticipating future market growth.
As the geopolitical risks in the Middle East that had increased market uncertainty have somewhat subsided, investors are gradually recovering their preference for risk assets. XRP is being noted as one of the assets that has most quickly benefited from this trend.
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