Trump Confirms US Strikes on Iran; XRP Holds Long‑Term Support as Analysts Eye $6–$10
President Donald Trump announced the start of major US combat operations against Iran targeting missile sites and naval assets, prompting immediate geopolitical market jitters. Israeli PM Benjamin Netanyahu confirmed joint action; Iran reportedly launched missiles toward Israel that were intercepted. Crypto markets fell on the news: total crypto market cap slid ~4.05% to $2.21 trillion, Bitcoin dropped ~6% to ~$64,183, Ethereum fell ~5% to ~$1,872, and XRP initially dipped to $1.115 before trading near $1.44 (down ~28% month‑over‑month). Despite short‑term weakness, technical analysts highlight that XRP remains above a multi‑year ascending trendline (support since 2018) and argue the token’s long‑term bullish structure is intact. An Elliott Wave analyst (XForceGlobal) points to a breakout from a multiyear triangle and describes recent retracement as reset prior to a new bullish wave, citing Fibonacci extension targets at $4, $5, $6 (conservative) and up to $10+ in aggressive scenarios. Market watchers note historical retests of the long trendline preceded strong breakouts, with a full‑cycle theoretical extension mentioned as high as $27.6. Traders should weigh elevated geopolitical risk that can increase volatility and short‑term downside pressure against technical signs of longer‑term accumulation.
Bearish
The immediate market reaction to confirmed US strikes on Iran is bearish: heightened geopolitical risk typically drives risk‑off flows, causing rapid selloffs and elevated volatility. The article documents sharp intraday declines across major assets (BTC down ~6%, ETH down ~5%, XRP down ~7% at one point) and a drop in total crypto market cap, consistent with short‑term risk aversion. For traders, expect increased intraday price swings, wider spreads, and potential liquidations in leveraged positions. However, the longer‑term technical picture for XRP includes support above a multi‑year ascending trendline and a claimed Elliott Wave breakout, which suggests structural bullish potential if geopolitical tensions ease and accumulation continues. Historical precedents (regional military escalations) show an initial bearish shock followed by recovery once clarity returns; thus short‑term trading should prioritize risk management and liquidity, while swing traders may watch for confirmation of trendline support and volume‑backed breakouts before re‑entering long positions.