XRP Price Rallies as Bitcoin Surges; Market Faces High Volatility
The altcoin market, particularly driven by XRP, saw an 8% increase in total crypto market capitalization, reaching approximately $3.45 trillion, following Bitcoin's brief rebound above $102K. However, the underlying fundamentals indicate ongoing volatility due to renewed US-China tariff tensions, leading to over $540 million in liquidations within 24 hours.
XRP Price Dynamics
- XRP faced resistance at around $3.39 in January and has corrected alongside Bitcoin.
- Bitcoin dropped approximately 16% from its all-time high of about $109K, forming a potential double top.
- XRP’s fully diluted valuation is about $254 billion, with a 24-hour trading volume of $18 billion.
- If Bitcoin stays below $92K, XRP may decline to local lows between $1.3 and $1.6.
Future Outlook
- Institutional interest in Ripple Labs’ solutions is driving global XRP adoption.
- The likelihood of a spot XRP ETF approval in 2025 has increased after recent filings by fund managers.
- Anticipated regulatory clarity for cryptocurrencies under the upcoming US administration may further support XRP sentiment.