XRP Outperforms Bitcoin, Ethereum After Trump Rejects Iran Proposal, Retail Bets On CLARITY Act

• Bitcoin struggled to hold above $81,000, while Ethereum attempted to keep above $2,300 on Monday morning.
• The leading cryptocurrencies were muted after oil prices surged following President Donald Trump's rejection of Iran’s latest proposal to end the conflict.
• Dogecoin and Solana also outperformed the broader market, posting modest gains alongside XRP.

Ripple’s native token XRP (XRP) outperformed Bitcoin (BTC) and Ethereum (ETH) in morning trade on Monday as the cryptocurrency market held steady after President Donald Trump rejected Iran’s most recent proposal to end the war, leading to a surge in crude oil prices.

XRP’s price held onto gains of over 2% in the last 24 hours, leading gains among the top 10 cryptocurrencies by market capitalization. Retail sentiment around the Brad Garlinghouse-led crypto project on Stocktwits strengthened to ‘neutral’ from ‘bearish’ territory over the past day, and chatter rose to ‘high’ from ‘normal’ levels. 

Retail commentary on the platform indicated that the improvement in sentiment was driven by the expectation that the CLARITY Act may get marked up in the Senate this week. If passed, it would lend credibility to Ripple’s stablecoin Ripple USD (RLUSD). Retail sentiment around RLUSD also rose to ‘neutral’ from ‘bearish’ territory over the past day. Chatter stayed at ‘high’ levels.

One retail trader on Stocktwits forecast that XRP’s price could balloon to $10, an over 500% increase from current levels, once the CLARITY Act is passed.

Others were more skeptical about the CLARITY Act clearing the Senate this week.

Dogecoin (DOGE) and Solana (SOL) also outperformed Bitcoin and Ethereum on Monday morning. DOGE’s price rose 1.5% to around $0.109, while Solana’s price rose 1.4% to just over $95.

Bitcoin, Ethereum Struggle To Stay In The Green

Bitcoin’s price struggled to hold onto $81,000 in morning trade, while Ethereum’s price edged lower but stayed above the $2,300 level. On Stocktwits, retail sentiment around Bitcoin remained in ‘neutral’ territory, while sentiment around Ethereum improved to ‘neutral’ from ‘bearish’ territory over the past day. Chatter for both leading cryptocurrencies remained at ‘normal’ levels.

The muted moves come after Iran reportedly sent a new proposal to U.S. negotiators, stressing the need to end the war on all fronts and to lift sanctions on Tehran. Trump responded in a Truth Social post on Sunday that he did not like Iran’s pitch, adding that it was “TOTALLY UNACCEPTABLE!”

The price of U.S. West Texas Intermediate crude oil rose over 2% to more than $96 per barrel, after hitting an intra-day high of over $100 per barrel. International benchmark Brent crude oil prices gained 3% to over $103 a barrel. The United States Oil Fund (USO) was up 2% in morning trade, with retail sentiment on Stocktwits falling to ‘neutral’ from ‘bullish’ territory over the past day amid ‘low’ levels of chatter.

Read also: CRCL Stock Swings After Q1 Earnings Miss, Profit Squeeze – Retail Bullish On CLARITY Act Markup Hopes

For updates and corrections, email newsroom[at]stocktwits[dot]com