Crypto Market Soars on Trump's Iran Ceasefire Extension

The crypto market has been on a tear today, with all major cryptocurrencies experiencing gains. At the forefront of this surge is Bitcoin, which has reached an 11-week high of $78,452. This significant milestone comes as President Trump extends the US-Iran ceasefire, driving demand for risk assets.

Despite strong resistance in the $77,785 zone, analysts suggest that Bitcoin could bounce to $82K if it holds this level as support. The RSI reading on the four-hour chart indicates a strong bullish momentum, suggesting that there is room for further price appreciation.

Ethereum has also seen significant gains, testing the key resistance level of $2,400. This rally comes amid a crossover between Ethereum's price and its 100-day EMA, creating interest from buyers and confirming strong buying pressure. If this resistance breaks, the next target for ETH lies at $2,700.

XRP has also broken out to $1.45, with analysts suggesting that it could surge by 20% in the coming days. This breakout comes amid a falling wedge pattern, indicating a potential bearish reversal, and various bullish developments around the token, including its quantum-readiness announcement and exploration of DeFi.