New York, March 4, 2026, 13:02 (ET) — Regular session underway
- XRP climbed roughly 6%, trading near $1.45 as the cryptocurrency sector staged a rebound.
- Middle East risk headlines collide with new chatter out of Washington on U.S. crypto legislation, leaving traders weighing both.
- Next up: Friday brings the U.S. jobs report, plus any signals on the Clarity Act.
XRP, the digital asset associated with payments company Ripple, jumped 5.8% to $1.45 Wednesday. The token swung between $1.34 and $1.47 during the session.
Bitcoin jumped roughly 7% to $73,294, while ether climbed 8%, hitting $2,151, as fading fears over a broader Middle East conflict led traders to dial back on haven bets. “Investors are seeing light at the end of the tunnel,” said Karl Schamotta, chief market strategist at Corpay. 1
President Donald Trump called on Congress to move quickly on the Digital Asset Market Clarity Act, blaming banks for dragging their feet, according to the Wall Street Journal. In an ongoing clash over whether crypto platforms can pay out rewards with stablecoins—tokens tied to the dollar and popular as digital cash substitutes—Trump argued, “Americans should earn more money on their money.” 2
Weekend moves in crypto have been heavily shaped by geopolitical tensions, a pattern that’s spilled into the weekdays. Chainalysis data shows roughly $10.3 million exited Iranian crypto exchanges from Saturday to Monday, following the start of U.S. and Israeli strikes. Still, researchers warn the reasons behind the transfers are murky. “Some of these flows are almost certainly ordinary Iranians moving funds,” Chainalysis said. 3
XRP kept seeing strong liquidity, climbing roughly 5.5% in the past 24 hours. Trading volume hovered around $3.9 billion, with the token’s market capitalization coming in close to $88 billion, CoinMarketCap data show. 4
For some investors, crypto has become a quick barometer for risk sentiment while stocks recalibrate. “Crypto prices absorb the shock before traditional markets open Monday,” Hashdex’s Samir Kerbage wrote in a note picked up by Barron’s. He pointed to the now-typical sequence: steep declines and then rapid recoveries. 5
Regulatory progress remains uneven in other regions. Turkey’s parliament is considering a crypto asset tax plan that Reuters says could bring in 4.2 billion lira ($95.58 million). The proposal includes a 0.03% levy on transactions and would impose a 10% withholding tax on profits from approved platforms. 6
XRP tends to track a familiar trio—bitcoin’s moves, dollar fluctuations, and legal or regulatory battles. Wednesday’s session showed more of the broad-market action, with XRP rising alongside the global rebound.
Bitcoin broke through $73,000, with Bloomberg pointing to exchange-traded fund demand and more aggressive derivatives bets as drivers. That momentum spilled over, boosting smaller tokens as well as the majors. 7
Speed cuts both ways here. A brief de-escalation—or if lawmakers hit another wall—XRP’s gains can evaporate just as fast. Moves get sharper in off-hours, too, when liquidity thins outside top U.S. and European trading windows.
Friday brings the U.S. jobs report, a closely watched risk event that can move rates, the dollar, and crypto alike. Economists polled by Reuters are looking for a 59,000 gain in nonfarm payrolls. 8
XRP now faces a new hurdle: can the rally withstand more Iran headlines or any Capitol Hill buzz around the Clarity Act? Traders are watching Friday’s payroll data as the next fixed milestone.
