Ethereum and XRP surge, Meme Coin explodes even stronger after ceasefire news

The cryptocurrency market today witnessed a strong recovery as geopolitical tensions eased following the ceasefire declaration between Iran and Israel. The shift in market sentiment from fear to neutral has propelled risky assets to soar.

Major Altcoins and Meme Coins benefit

Bitcoin and Ethereum rose 3.6% and 6.5% respectively, while the total cryptocurrency market capitalization increased by 2.9% to 3.23 trillion USD. Altcoins also performed well, with $XRP rising by 8.1% and Sei ($SEI ) skyrocketing by 46.5%.

Notably, meme coins showed even more impressive gains. SPX6900 increased by 28% to 1.3476 USD with strong technical signals, indicating continued upside potential. Similarly, Dogwifhat ($WIF ) rose by 23% to 0.8740 USD, reclaiming key support levels and triggering significant short position liquidations, signaling a recovery.

Technical analysis shows growth potential

Both SPX6900 and WIF exhibit positive technical indicators, from strong ADX to RSI in the "strength zone" or neutral, indicating room for growth still exists. Although WIF may need to break through some EMA resistance levels, the overall market momentum suggests optimism.