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XRP rises 1.61% amid Hormuz tensions and oil pipeline talks, but risks a deeper correction near $1.

Market News
20 Apr 2026
FXEmpire
View Source
Neutral
pluang ai news

XRP gained 1.61% to $1.41 despite a 6.4% drop from last week's high, supported by efforts to reduce reliance on the Strait of Hormuz amid rising geopolitical tensions. The International Energy Agency proposed a Basra-to-Ceyhan oil pipeline to bypass Hormuz, highlighting risks to global energy supply after US-Iran naval conflicts disrupted the region. XRP faces technical resistance near $1.42, with potential for a deeper correction toward $1 if it fails to break this level, reflecting past patterns. Meanwhile, debates continue over XRP ownership rights, as token holders do not share Ripple's corporate profits.

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