New York Wrap: Crude jumps, XRP leads crypto rout

Two stories dominated the close: oil pushed higher while crypto sold off hard across the board.

Energy and Metals

US crude led every asset on the board, up 2.9% to $100.89 and now 6.81% higher on the week and 20.03% over the month. Brent (UKOil) added 1.8% to $104.63, extending a 5.35% weekly gain.

The precious complex saw firmer sessions from the industrials. Palladium rose 1.59% to $1,303.70 and platinum gained 1.28% to $1,785.52, though both remain down on the week at -3.84% and -6.19% respectively. Gold barely moved, up 0.12% to $4,293.35, and silver added 0.83% to $63.65 despite a 5.27% weekly drop.

Crypto

The selling was relentless. XRP dropped 9.75% to $1.2834, the day’s worst performer, with Tezos close behind at -9.61%. Stellar fell 8.31% to $0.17537.

The majors followed. Bitcoin slid 3.26% to $75,613.93, Ethereum lost 4.72% to $2,395.88, and Solana shed 5.57% to $96.76. Cardano dropped 6.2% and Dogecoin 4.56%. Even after the rout, most names hold sharp monthly gains — Ethereum is up 25.33% and Solana 27.5% over 30 days — underscoring how much of the recent run came off.

Equities and FX

Wall Street closed in the red. The Nasdaq 100 fell 0.6% to 28,970.75, the S&P 500 lost 0.43% to 7,591.62, and the Dow slipped 0.59%. Europe was softer too, with the Euro Stoxx 50 down 0.51% and the CAC 40 off 0.45%. The Nikkei 225 bucked the trend, adding 0.92% to 63,639.42.

The dollar firmed at the margins. USD/JPY rose 0.45% to 155.10 and USD/CHF added 0.11% to 0.81811. EUR/USD eased 0.12% to 1.15334 and GBP/USD fell 0.22% to 1.34687. NZD/USD was the softer major, down 0.51% to 0.57473 and 1.64% lower on the week.

The crypto complex remains the session’s clear weak spot, while the energy rally left crude the standout on both the daily and monthly view.