On Monday, the cryptocurrency market showed signs of recovery, with Bitcoin rising to $101,000 and altcoins leading the rebound.
Geopolitical risk remains high, with potential oil disruptions in the Strait of Hormuz threatening further volatility in risk assets.
After a wave of liquidations swept through the cryptocurrency markets, traders are now looking for signs of recovery, led by battered altcoins like Solana, XRP, and Dogecoin. One of the factors driving positive sentiment is the case between XRP and the SEC. This is despite ongoing geopolitics in the Middle East.
Geopolitics Triggers The Liquidation Spiral
Markets unraveled on Saturday after U.S. President Donald Trump confirmed coordinated airstrikes on Iranian nuclear sites. The strikes prompted immediate sell-offs of digital assets, forcing exchanges to liquidate positions en masse.
However, on Monday, the cryptocurrency market appeared to stabilize. Bitcoin reclaimed the $10,000 mark, Ethereum hovered around $2,280, Solana surpassed $135, and XRP pushed back above $2. Although losses remained visible on the daily chart, the pace of recovery hinted at renewed spot demand and a hunt for bargains.
Yet, uncertainty remains. The United States has warned of stronger responses if Iran retaliates, and any disruption of oil transport through the Strait of Hormuz could shake global markets and spill over into risk assets like crypto.
While Bitcoin's volatility has dominated headlines, altcoins have quietly mounted a stronger recovery. This resilience may signal a return to risk-taking behavior, with investors betting that the macroeconomic bullish trend remains intact despite geopolitical headwinds.
Ripple's XRP case could end sooner than expected, according to a lawyer
As the long-standing legal conflict between Ripple and the United States Securities and Exchange Commission (SEC) approaches its end, new developments suggest that a final decision could arrive sooner than expected, although some analysts predict a delay.
According to legal expert Bill Morgan, Judge Analisa Torres may act quickly, potentially resolving a case that has become a defining battle for crypto.
Ripple and the SEC jointly filed a revised motion on June 12 asking the court to lift the long-standing injunction that limits Ripple's ability to sell XRP.
The SEC simultaneously requested the Appeals Court to stay the ongoing appeal process for 60 days, a request that the court approved, setting a flexible deadline of August 15. This led to speculation that no decision would be made before mid-August. But Morgan argues otherwise.
In a sharp observation, Morgan challenged claims that the SEC had stagnated. He stated that Ripple, not the regulator, caused much of the hold-up by insisting on the lifting of the injunction.
