Ripple (XRP) is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.
Commerzbank’s commodity team, led by Barbara Lambrecht, notes that Oil volatility has risen as markets watch US–Iran talks and updated forecasts from the IEA, EIA and OPEC.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $62.85 during the Asian trading hours on Friday. The WTI price declines after the United States (US) and Iran agreed to hold talks in Oman on Friday.