As a seasoned analyst with over two decades of experience in the cryptocurrency market, I have seen bull and bear cycles come and go. The recent surge of Ripple (XRP) has piqued my interest once again, with its 15% increase within the past 24 hours, reaching an intraday high of $2.44 in Asia on Jan. 2. This is a significant milestone for XRP since it hasn’t been this high since mid-December.
The momentum and focus on real-world utility are evident, as stated by CEO Brad Garlinghouse on New Year’s Day. Additionally, the release of Ripple’s monthly 500 million XRP from escrow with an intriguing note about Donald Trump’s presidency in January 20 has fueled speculation and hype among the community.
However, I must remind my readers that cryptocurrency markets are notoriously volatile and unpredictable. While it is tempting to jump on the XRP bandwagon, one should always do their due diligence before making investment decisions.
In terms of other altcoins, Stellar Lumens (XLM), Cardano (ADA), Avalanche (AVAX), Chainlink (LINK), and Hedera (HBAR) are also performing well. Bitcoin, on the other hand, has made only a minimal gain and remains in consolidation since its fall below $100,000 in mid-December.
Some analysts believe that we might witness an altcoin rally in the first three months of 2025, which could potentially come at the expense of Bitcoin if capital is rotated into alts. As always, I remind my readers to exercise caution and make informed decisions when investing in the cryptocurrency market.
Lastly, as they say, “Never invest more than you can afford to lose, but remember: The bigger the risk, the bigger the reward – or the bigger the loss!” So, happy trading, and may your portfolio grow!
In the last 24 hours, the digital currency used for cross-border payments by Ripple, XRP, has surged nearly 15%, reaching a peak of $2.44 during early Asian market hours on January 2nd.
It is the highest XRP has been since mid-December, as payment coins lead the way into the new year.
In the early days of December, the price of Ripple’s token soared to an impressive peak of around $2.90 – marking a seven-year high. However, by the end of the month, it experienced a drop and dipped down to roughly $2.
On New Year’s Day, CEO Brad Garlinghouse stated that there is a growing emphasis on practical applications and momentum for the technology in question.
just smash the LIKE button if you are HOLDING $XRP!
— Oscar Ramos (@realOscarRamos1) January 2, 2025
Altcoins Lead Into 2025
On New Year’s Day, I noticed that the fintech company had disbursed its usual 500 million XRP from escrow, and there was an intriguing addendum to it!
The memo in the transaction stated, “January 20 is around the corner,”
“Donald Trump will be in the White House, and we are going to make crypto great again.”
As someone who has followed the cryptocurrency market for several years now, I have noticed a significant amount of speculation surrounding Ripple and its potential collaboration with the new Trump administration. While I cannot confirm these rumors, my personal experience tells me that such an alliance would be highly beneficial to both parties.
From what I’ve gathered, Ripple is a blockchain-based digital payment system that aims to make international transactions faster, cheaper, and more efficient. The new Trump administration has expressed its desire to reduce reliance on foreign powers and promote American ingenuity, which aligns with Ripple’s mission to improve global financial infrastructure.
If true, this partnership would not only boost Ripple’s reputation but also provide the U.S. with a competitive edge in the rapidly growing fintech industry. However, it is essential to remember that unsubstantiated rumors should be taken with a grain of salt until official confirmation from both parties is provided.
He also noted that XRP “broke out from a descending triangle and is ready for $3!”
NEWS FLASH: Ripple has distributed another 500 million units of XRP from its reserve, adding a fascinating twist!
— JackTheRippler © (@RippleXrpie) January 1, 2025
Stellar Lumens (XLM), a relative of Ripple that split off from the same blockchain, was also showing strong performance. Like Ripple’s price movements, Stellar Lumens often follows a similar trend.
today, Stellar (XLM) experienced a significant rise of approximately 28%, reaching a peak of $0.456 during the early Asian trading hours on Thursday. In late November, Stellar soared past $0.60, but even with this recent surge, it’s still about 50% lower than its record high from 2018.
Today, Cardano (ADA) is showing strong performance, surging by 10% to touch $0.95 – a price level not seen in two weeks.
Other altcoin gainers include Avalanche (AVAX), Chainlink (LINK), and Hedera (HBAR).
Bitcoin Consolidation Continues
Bitcoin rose by approximately 1.3% and reached nearly $95,000 during early trading on Thursday. It’s been holding steady since it dropped below the $100,000 mark around mid-December.
At present, Bitcoin’s influence or market share stands at approximately 57.44%. This figure has decreased by around 7% compared to its peak of nearly 62% in late November, a time when the cryptocurrency was experiencing a strong surge.
Some experts predict an extensive surge in popular alternative cryptocurrencies during the initial quarter of 2025. This upward trend might come at Bitcoin’s cost if investors decide to shift their funds towards altcoins.
The biggest Altcoin rally will happen in Q1#Altseason is coming
— Elja (@Eljaboom) January 1, 2025
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2025-01-02 10:05