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Key takeaways:
<ul>
 <li>XRP price jumped over 11% after a ceasefire between Israel and Iran.</li>
 <li>Mid-sized whale addresses have steadily accumulated XRP.</li>
 <li>XRP rebounded from a key technical support zone, raising the odds of a breakout toward its $3.36 yearly high.</li>
</ul>
XRP’s (<a href="https://cointelegraph.com/xrp-price-index" rel="noopener noreferrer nofollow">XRP</a>) price has rallied by over 11.25% in the past 24 hours to reach $2.21 on June 24, its gains primarily driven by signs of an easing geopolitical turmoil in the Middle East.
<figure>
 <img alt="Cryptocurrencies, Ripple, SEC, XRP, Markets, ETF" src="https://s3.cointelegraph.com/uploads/2025-06/0197a0db-95f4-7baa-8f7a-bb42642ee34a" title="">
 <figcaption style="text-align: center;">
 XRP/USD four-hour price chart. Source: TradingView
 </figcaption>
</figure>
<h2 id="israel-iran-truce-leads-to-xrp-recovery">Israel-Iran truce leads to XRP recovery</h2>
XRP rose alongside the broader crypto and risk-on markets after US President Donald Trump <a href="https://cointelegraph.com/news/bitcoin-rebounds-to-106k-amid-middle-east-ceasefire-and-rate-cut-bets" rel="noopener noreferrer nofollow" target="_self">announced</a> a ceasefire agreement between Israel and Iran.
<figure>
 <img alt="Cryptocurrencies, Ripple, SEC, XRP, Markets, ETF" src="https://s3.cointelegraph.com/uploads/2025-06/0197a0e6-2a47-7c48-9e55-1605374b7ab7" title="">
 <figcaption style="text-align: center;">
 XRP/USD four-hour price chart. Source: TradingView
 </figcaption>
</figure>
Israeli Prime Minister Benjamin Netanyahu confirmed that Israel agreed to a truce shortly after Trump’s statement. Earlier, Iranian Foreign Minister Abbas Araghchi pledged that Iran would stop firing as long as Israel did.
The US bombing of Iranian nuclear sites had led to sharp <a href="https://cointelegraph.com/news/92k-dip-vs-short-term-war-5-things-bitcoin-this-week" rel="noopener noreferrer nofollow" target="_self">crypto market sell-offs</a> during the weekend, with XRP plunging by as much as 11% from its local high.
XRP’s rebound came as easing geopolitical tensions improved investor appetite for risk assets. Traders rotated back into cryptocurrencies, stocks, and other high-beta markets after fears of a broader Middle East conflict subsided.
<h2 id="xrp-whales-ignore-middle-east-woes">XRP whales ignore Middle East woes</h2>
XRP’s rebound also coincides with continued accumulation by mid-sized whale addresses.
The total supply held by addresses with 10,000 to 100,000 XRP has steadily increased since December 2024, even during periods of geopolitical instability like the recent Israel–Iran conflict, according to <a href="https://studio.glassnode.com/charts/addresses.SupplyBalance10K100K?a=XRP&amp;ema=0&amp;mAvg=0&amp;mMedian=0&amp;s=1719364633&amp;u=1750550400&amp;zoom=" rel="noopener noreferrer nofollow" target="_blank">Glassnode data</a>.
<figure>
 <img alt="Cryptocurrencies, Ripple, SEC, XRP, Markets, ETF" src="https://s3.cointelegraph.com/uploads/2025-06/0197a0f1-d302-7cde-abc8-8a51700f0d28" title="">
 <figcaption style="text-align: center;">
 XRP supply held by addresses with a balance of 10k-100k. Source: Glassnode
 </figcaption>
</figure>
This group now holds over 7.34 billion XRP, up from around 6.8 billion a year ago, suggesting that these investors have been quietly buying the dip and remain confident in XRP’s long-term outlook.
Their consistent accumulation likely provided a cushion during the recent market volatility, helping XRP recover faster as broader risk appetite returned.
<h2 id="xrp-bounces-from-key-support-confluence">XRP bounces from key support confluence</h2>
XRP’s gains today followed a rebound from a key support confluence near $1.82–$1.92, formed by its 50-week exponential moving average (EMA) and the lower trendline of its prevailing descending triangle pattern.
The same support confluence triggered a 65% rally in early April toward the triangle’s upper trendline.
<figure>
 <img alt="Cryptocurrencies, Ripple, SEC, XRP, Markets, ETF" src="https://s3.cointelegraph.com/uploads/2025-06/0197a101-1f46-7f7e-a312-0e84095ca097" title="">
 <figcaption style="text-align: center;">
 XRP/USD weekly price chart. Source: TradingView
 </figcaption>
</figure>
However, traditional analysts consider descending triangles as bearish reversal patterns when they form during an uptrend. Thus, XRP could still decline toward $1.10 if it decisively breaks below the lower trendline support.
The bearish scenario will be invalidated if the price breaks above the upper trendline, potentially setting XRP up for a rally toward $3.36, its year-to-date high, up 55% from current levels.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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