Ripple (XRP) Price Surge, Bullish Bitcoin (BTC) Predictions, and Shiba Inu (SHIB) Gains: Bits Recap Jan 17

by

TL;DR

  • Ripple (XRP) neared its ATH while its market cap surged past $190 billion. Analysts see the price rising to as high as $15.
  • Bitcoin (BTC) hit $102,000, boosted by market optimism and potential pro-crypto policies tied to Trump’s upcoming presidency.
  • Shiba Inu (SHIB) rose 10%, possibly fueled by meme coin market recovery and milestones on its Shibarium network.

XRP Goes Wild

Recently, Ripple’s native token has experienced a significant surge, rising by an impressive 45% in the past week. On January 16, XRP hit $3.39, which is only 1% shy of its peak value it reached at the beginning of 2018.

momentarily, the market value of this asset peaked at nearly $195 billion according to CoinGecko’s data, and it now hovers around $191 billion. To give you an idea, corporations like Goldman Sachs, Walt Disney, and Philip Morris have comparable valuations.

As an analyst, I’ve observed several elements driving XRP’s significant surge recently. These include large-scale whale accumulation, excitement surrounding political shifts in the U.S., increasing network adoption, and more. For those interested in delving deeper, additional insights can be found here.

Numerous experts predict that XRP has significant potential for further growth, suggesting that reaching a new all-time high is only a matter of time. Notably, the well-known XRP user CRYPTOWZRD has set a near-term goal at $4 and speculates that it could potentially climb to $8.

Ali Martinez also contributed his thoughts. Earlier this week, he expressed the belief that XRP’s price might soar to $10. Later on, he proposed that a surge as high as $15 was not out of the question either.

BTC is Back Above $100K

Regardless of recording smaller increases compared to XRP, Bitcoin (BTC) has also been moving upwards on a weekly scale. Currently, Bitcoin is trading above $102,000, marking significant growth given its recent dip below $90K just a few days ago.

Captain Faibik and Mikybull Crypto are part of a group of users anticipating potential growth in the coming weeks. Captain Faibik predicts that a new All-Time High (ATH) will be reached by late January, while Mikybull Crypto suggests that surpassing the $99K resistance level might trigger “the excitement and mania” phase in the market psychology.

“This is the phase where everything pumps, especially alts,” Mikybull Crypto added.

In the meantime, the cryptocurrency community is looking forward to Donald Trump’s swearing-in as the 47th President of the United States, an event slated for January 20.

During his presidential campaign, the Republican candidate made multiple pledges in support of cryptocurrencies, which could potentially boost Bitcoin and the broader market. Latest news suggests that Trump intends to issue an executive order, positioning cryptocurrency as a key policy focus and granting industry experts a voice within his administration.

As reported by the New York Post, the future president is considering the creation of a cryptocurrency reserve that heavily emphasizes digital currencies such as Solana (SOL), Ripple (XRP), and USD Coin (USDC). Notably, the organizations behind these coins are all based within the United States.

How’s SHIB Doing?

To wrap up, let’s discuss Shiba Inu (SHIB), a well-known meme coin that has been generating buzz lately. Its value has increased by more than 10% in the last week and is now approximately $0.000239 at present.

The reemergence aligns with a broader surge within the meme coin market, where coins like Dogecoin (DOGE), Shiba Inu (WIF), Floki Inu (FLOKI), and numerous others are all experiencing gains.

The surge in SHIB’s price also occurs just a few days after Shibarium, the project’s layer-2 scaling solution, achieved a significant milestone. As reported by CryptoPotato, the number of transactions processed on the network exceeded 800 million.

Or

The rise in SHIB’s price is happening close on the heels of Shibarium, the project’s layer-2 scaling solution, reaching a notable milestone. According to CryptoPotato’s report, over 800 million transactions have been processed on the network.

Read More

2025-01-17 11:44