tl;dr
The Ripple cross-border payment token has surged nearly 15% in the past 24 hours, reaching a high of $2.44 during early Asian trading on Jan. 2. This marks its highest value since mid-December, with CEO Brad Garlinghouse attributing the momentum to increased real-world utility. Ripple's sibling, Ste...
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Ripple's XRP token climbs nearly 15% in 24 hours, hitting $2.44, highest since mid-December
The Ripple cross-border payment token has surged nearly 15% in the past 24 hours, reaching a high of $2.44 during early Asian trading on Jan. 2. This marks its highest value since mid-December, with CEO Brad Garlinghouse attributing the momentum to increased real-world utility. Ripple's sibling, Stellar Lumens (XLM), has also seen a 28% surge, while Cardano (ADA) and other altcoins have experienced gains.
Ripple's monthly 500 million XRP release sparks speculation, with XLM surging 28% in tandem
Also on New Year’s Day, community member ‘Jack the Rippler’ observed that the fintech firm has released its monthly 500 million XRP from escrow, “but with an interesting note!” The memo in the transaction stated, “January 20 is around the corner,”. He also noted that XRP “broke out from a descending triangle and is ready for $3!” Ripple’s sibling, which was forked from the chain, Stellar Lumens (XLM), was also performing well, as it usually mirrors XRP momentum. XLM has surged 28% on the day.
Bitcoin consolidates at $95,000, with analysts predicting a potential altcoin rally in Q1 2025
Meanwhile, Bitcoin has risen by 1.3% to surpass $95,000, with analysts speculating on a potential altcoin rally in the first quarter of 2025. Bitcoin has made just 1.3% over the past day to top $95,000 during Thursday morning trading. BTC dominance is currently at 57.44%, dropping 7% since its multi-year high of almost 62% in late November when it was rallying hard. Some analysts believe that a big altcoin rally will occur in the first three months of 2025, and this could be at the expense of BTC if capital is rotated into alts.