U.S. President Donald Trump has indicated that the U.S. is willing to continue negotiations with Iran, but the ceasefire between the two nations appears to have ended, according to multiple sources. Trump’s comments come amid heightened tensions following recent military exchanges over the Strait of Hormuz, and the U.S. has targeted about 170 Iranian targets, while Iran has retaliated by striking U.S. assets across the region, per Al Jazeera.

Continued Negotiations Amid Escalating Tensions

Trump stated in a Friday post that the U.S. has ‘agreed’ to continue talks with Iran, though he did not specify whether the discussions would focus on ending the fighting or addressing issues outlined in the June 17 memorandum of understanding (MoU). That agreement called for an end to hostilities and the reopening of the Strait of Hormuz; Iran did not immediately confirm the request for renewed negotiations, according to Al Jazeera.

Earlier this week. Trump claimed the U.S. is not seeking a full-scale war with Iran, but he also warned of potential military action against Iran’s oil and water infrastructure, according to Al Jazeera. In an interview with Fox News. Trump emphasized. ‘We are either going to get a great deal, or we are going to go back and finish it militarily,’ as reported by Nate.

Proposals and Counter-Proposals on the Table

Iran’s Tasnim News Agency reported on May 31 that Tehran plans to submit a new counter-proposal, responding to Trump’s re-transmitted draft agreement. The U.S. is demanding more stringent conditions regarding the disposal of nuclear materials, such as highly enriched uranium (HEU), and the reopening of the Strait of Hormuz, according to Nate.

Trump also claimed in a Situation Room briefing that ‘securing enriched uranium and a nuclear ban defines mission accomplished,’ according to Nate. In a phone interview with ABC. Trump said, ‘Talks with Iran (to end the war) are proceeding at a rapid pace,’ and ‘I think we can reach agreement next week on extending the ceasefire and reopening the Strait of Hormuz,’ according to Kyeonghyang Shinmun.

Market Reactions and Geopolitical Uncertainty

Despite the tensions, reports of a tentative U.S.-Iran agreement to end hostilities have lifted sentiment in the crypto market, according to TMGM. The West Texas Intermediate (WTI) oil price eased to $79.36 from a recent high of $85.76, according to TMGM. U.S. inflation remains elevated at 4.2% in May, according to the latest Consumer Price Index (CPI) data.

Appetite for risk assets has increased as reflected in the crypto Fear & Greed Index, which rose to 20 on Monday from 18 the previous day and 8 last week, according to TMGM. The XRP derivatives market mirrored this trend, with perpetual futures Open Interest (OI) rising to $2.54 billion on Monday, up from $2.48 billion the day before and $2.28 billion on June 7. XRP trades near $1.24 after climbing from a monthly low of $1.05.