 ▲ United States, Iran, Bitcoin (BTC), XRP / ChatGPT-generated image |
News that Iran’s Supreme Leader Ali Khamenei was killed in a joint U.S.-Israel airstrike has sent shockwaves through the cryptocurrency market, triggering sharp volatility in the prices of Bitcoin (BTC) and XRP.
According to CoinGape, the geopolitical risk had an immediate impact on the market. Bitcoin briefly plunged but rebounded to the $67,040 level as continued inflows into U.S. spot Bitcoin ETFs helped cushion downward pressure.
U.S. President Donald Trump stated on his social media platform Truth Social that Khamenei had been a historic adversary and that the airstrike was successful. Shortly after satellite images revealing the destruction of security facilities in Tehran were released, Iranian state media officially confirmed Khamenei’s death. In response, Iran launched widespread missile retaliatory strikes against neighboring countries and waters hosting U.S. bases, escalating tensions across the Middle East.
XRP also showed gains amid the volatility, fluctuating between $1.39 and $1.42. Market participants believe that if XRP can firmly hold the $1.40 level, it has a strong chance of rising to $1.50. However, some cautious views suggest that failure to maintain support at $1.30 could lead to a retest of recent lows.
The broader cryptocurrency market managed to rebound despite geopolitical uncertainty, with total market capitalization increasing to $2.31 trillion. Ethereum (ETH) held above the $2,000 mark, while major altcoins such as Solana and Dogecoin posted modest gains. From February 23 to 27, spot Bitcoin ETFs recorded $787 million in inflows, led by BlackRock’s IBIT, which attracted $503 million.
Given the market’s vulnerability to geopolitical shocks, volatility could expand again if tensions intensify. Nevertheless, sustained ETF inflows and established technical support levels are underpinning the prices of Bitcoin and XRP. Investors are closely watching whether military clashes in the Middle East will escalate into a full-scale war to gauge the market’s direction.
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