XRP outpaces top coins with 10% spike

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As a seasoned analyst with over a decade of experience in the crypto market, I must admit that the sudden surge in XRP‘s price is a sight to behold. The altcoin’s performance has been quite unpredictable, much like trying to predict the next move of a jittery cat on a hot tin roof.

The gains XRP made on Jan 1, reaching $2.32, were impressive indeed. It’s not every day you see an asset outpace the top 10 cryptocurrencies by market cap. Even Stellar (XLM), with its whopping 29% gain, couldn’t keep up with XRP’s momentum.

The increase in XRP’s weekly performance back into the green and the jump in its market cap to over $132 billion are clear indications of a bullish sentiment that’s sweeping through the crypto world. The daily trading volume increasing by more than 36% is another testament to this trend.

However, with XRP still more than 14% down in the past 30 days, it seems the coin is not entirely out of the woods yet. But with the general sentiment for 2025 being bullish, and given XRP’s history of volatility, who knows? We might just see a new all-time high that’s currently about 38% off the $3.40 high hit in 2018.

The recent transfer of 300 million XRP worth over $649 million from Ripple’s wallet is an interesting development. It’s a reminder that even when you think you’ve got a cat figured out, it can still surprise you by jumping onto the roof unexpectedly.

Lastly, as we approach the inauguration of U.S. President-elect Donald Trump, who has been known to have a pro-crypto stance, one can’t help but wonder if this is another catalyst for XRP’s price hike. After all, in crypto, anything is possible – even a cat learning to dance the tango on a hot tin roof!

As an analyst, I observed a significant surge in the value of XRP, propelling it ahead of the top 10 cryptocurrencies by market capitalization, marking a promising start for the altcoin in 2025.

On New Year’s Day, the value of Ripple’s token, XRP (XRP), peaked at $2.32. Over the last day, it experienced an increase of over 10%.

These gains put XRP on top of the leading gainers on the day above other top 10 coins.

Among the top 100 cryptocurrencies ranked by market capitalization, only Stellar (XLM) – which was positioned at number 18 at the time of writing – was experiencing greater increases. According to crypto.news price records, Stellar’s value was being traded around $0.4, marking a rise of over 29% within the preceding 24 hours.

After a period of negative returns, the value increase in XRP has moved its weekly performance back into positive territory. Simultaneously, the market capitalization surged past $132 billion, while the daily trading volume experienced an uptick of over 36%, reaching approximately $6.3 billion.

Over the last day, I’ve observed that XRP has fluctuated between $2.08 and $2.32. Despite this coin experiencing significant growth today, it’s still over 14% lower than its price 30 days ago. Yet, with the overall crypto market sentiment leaning heavily towards optimism for 2025, bullish investors might be hopeful of reaching a new record high that currently stands approximately 38% below the $3.40 peak achieved in 2018.

Despite a transfer of approximately 300 million XRP (equivalent to over $649 million) from Ripple’s wallet, XRP prices surged by double digits. This significant transaction was brought to attention by Whale Alert on January 1st.

The transfer is included in the monthly release of locked XRP funds. This occurs during a month when Donald Trump, the newly elected U.S. President, will assume office. His election win and favorable views towards cryptocurrencies are among the factors contributing to an increase in XRP’s value.

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2025-01-02 00:02