Hassan Maishera
TL;DR
-
BTC briefly touched the $102k mark on Thursday, up 2% in the last 24 hours.
-
XRP continues to lead the market charge and is now eyeing its all-time high price of $3.84.
BTC Touches $102k
The cryptocurrency market has been rallying since the start of the week, with Bitcoin up nearly 8% in the last seven days. The leading cryptocurrency added over 2% to its value in the last 24 hours, allowing it to briefly hit the $102k mark on Thursday.
It has slightly retraced to now trade at $101,416 per coin. The rally could continue as traders look forward to next week’s inauguration. With Trump expected to roll out crypto-friendly policies in the United States, traders are optimistic about a bullish 2025 and are positioning for it.
Bitcoin’s current all-time high is $108,268, but if BTC maintains its bullish performance, it could be broken in the coming days.
XRP Approaches its All-time High
While Bitcoin is rallying, Ripple’s XRP is leading the altcoin charge. XRP is the best performer among the top 10 cryptocurrencies by market cap, up 8% in the last 24 hours. At press time, XRP is trading at $3.31 per coin.
Thanks to its ongoing rally, XRP is now approaching the all-time high of $3.84 it set in January 2018. The latest rally comes as a report suggested Trump might back a strategic reserve of "America-first" cryptocurrencies.
The New York Post report suggested that the "America-first strategic reserve" tokens might include SOL, XRP, and Circle's USDC stablecoin.
SOL is up 5% in the last 24 hours and has overtaken Binance’s BNB token to become the fifth-largest cryptocurrency by market cap. Hedera’s HBAR is another “American altcoin” that is rallying. HBAR added 11% to its value and now trades at $0.3802 per coin.
Thanks to the ongoing rally, the total crypto market cap has reached $3.57 trillion, up 2% over the past 24 hours.
