XRP Surges 4.92% to $2.06 Amid Geopolitical Tensions, But Legal and Technical Risks Loom

XRPUSDT is currently trading at $2.0606, up 4.92% over the past 24 hours from a 24h open of $1.9640, with a 24-hour trading volume of $4.44 billion and a market capitalization of approximately $118.7 billion. The recent price increase is primarily attributed to heightened market volatility following geopolitical developments, notably Iran's parliament vote to close the Strait of Hormuz and related U.S. military actions, which have triggered liquidations and sharp movements across major cryptocurrencies. Despite this short-term upward move, XRP remains in a technically pivotal and volatile environment, with technical indicators showing a bearish setup and analysts warning of potential further declines if key support levels are breached, while legal uncertainty from the ongoing Ripple vs. SEC lawsuit continues to weigh on market sentiment.