Markets rallied after a surprise diplomatic lull: US President Donald Trump announced a 14-day ceasefire in the Iran conflict, and Tehran agreed to reopen the Strait of Hormuz — a chokepoint that had constrained oil flows since early March. The move triggered an immediate risk-on shift across crypto markets.
Bitcoin jumped about 5% on the news, touching roughly $72,000, while Ethereum climbed nearly 7% to about $2,300. Ripple’s XRP snapped out of its recent dormancy with a roughly 6% gain, trading near $1.38 after having fallen sharply when hostilities began.
Optimism is running high that the short ceasefire—and the reopening of the Hormuz shipping lane—could ease macro pressure and fuel further gains over the next two weeks. President Trump framed the pause positively on Truth Social: “There will be lots of positive action! Big money will be made. Iran can start the reconstruction process,” he wrote, adding that supplies will be brought in to “make sure that everything goes well.”
XRP’s recent trajectory highlights crypto’s rapid reversals. Between October 2024 and July 2025, XRP surged roughly 600%, spiking from about $0.52 to an all-time high near $3.65 in July. Since then it has cooled off and has struggled to reclaim the $1.50 area even as it posts today’s rebound.
That said, the ceasefire is temporary and geopolitical risk remains elevated. The agreement lasts only 14 days and leaders on both sides have been unpredictable. Days after the ceasefire announcement, Israel launched strikes in Lebanon, stressing that the pause did not apply to its operations—an example of how fragile the truce could be.
In short: the ceasefire and the Strait of Hormuz reopening have kicked off a short-term crypto rally, but uncertainty around the conflict means gains could be volatile and contingent on whether the lull holds.
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