According to a Wall Street Journal report, President Donald Trump is willing to end the U.S. military campaign against Iran, even if the strategically vital Strait of Hormuz remains closed. Trump and his aides reportedly assessed that a full-scale mission to reopen the strait would extend the conflict beyond his desired four-to-six-week timeline. The administration believes core objectives—such as degrading Iran's navy and missile stockpiles—have been met and now aims to wind down active hostilities while pursuing diplomatic pressure to resume free trade.
The news triggered immediate reactions across financial markets. S&P 500 futures jumped 0.8%, while oil prices, which had spiked to $107 per barrel, pulled back to around $103. The report provided a respite for global equities, with the S&P 500 having been on its longest losing streak since 2022.
In the cryptocurrency sector, the potential de-escalation is viewed as a removal of a major macro headwind. Analysts suggest that XRP (XRP) and Solana (SOL), both of which have suffered significant losses in recent weeks, are primed for a relief rally driven by improved risk sentiment. XRP, trading around $1.32, could see a fast move toward $1.50, with a break above that level opening a path to $1.80. Solana, trading near $83, is characterized as a high-beta asset that could quickly rebound to $95 and potentially test the $110-$140 range if geopolitical risk subsides.
However, the analysis notes fundamental challenges. Ripple's strong Q1 2026 financials, including a tripling of prime brokerage revenue and a $750 million share buyback, are increasingly decoupled from XRP token demand, with institutions favoring fiat rails or Ripple's own stablecoin, RLUSD. For Solana, despite its growing real-world asset tokenization ecosystem (valued at $873.3 million), the broader altcoin market remains under severe stress, with thinning liquidity potentially capping any rally.
Bitcoin demonstrated relative resilience, recovering from a dip below $65,200 to trade near $67,545. Analysts at JPMorgan and FxPro noted that crypto assets have weathered the crisis better than traditional equities and even gold, finding support at February lows while stock markets trend downward.
