The global market is breathing a sigh of relief after US President Donald Trump announced a 14-day ceasefire to the Iran war. The Islamic Republic agreed to reopen the Strait of Hormuz, which had choked the oil supply since the beginning of March. Bitcoin shot up 5% after the announcement, reaching a high of $72,000, while Ethereum surged nearly 7%, hitting $2,300. Ripple’s native token XRP broke out from its stagnation phase, surging 6%, and is currently trading at $1.38.
XRP had dropped sharply since the war broke out, and the cryptocurrency market was hit hard. Optimism is high in the broader markets, and the next two weeks could lead to better returns. “There will be lots of positive action! Big money will be made. Iran can start the reconstruction process. We’ll be loading up with supplies of all kinds, and just ‘hangin’ around’ in order to make sure that everything goes well,” wrote the President on Truth Social.
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Can Ripple’s XRP Double in Price Now?
Ripple’s XRP had surged nearly 600% in value between October 2024 and July 2025. It breached its previous all-time high of $3.40, which it reached in 2018, and recorded a new high of $3.65 in July last year. XRP went from a low of $0.52 to a high of $3.65 in less than a year. It has fallen since then but is struggling to climb above the $1.50 range.
However, while the market is rallying, this comes with limitations as the war is not over. Ripple’s XRP is doubling in value. The ceasefire, which lasts for 14 days, still casts a shadow and is a grey cloud hanging above the markets. Going by how erratic both Trump and Iranian leaders are, a full stop to the war is doubtful. For instance, just when the ceasefire was announced, Israel launched attacks on Lebanon, saying that the ceasefire did not include them.
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