The price of XRP rose sharply, surpassing the top 10 cryptocurrencies by market capitalization, as the altcoin appeared to be looking to start 2025 with success.
On January 1, the Ripple token XRP (XRP) reached a high of $2.32 and rose more than 10% in the last 24 hours.
These gains put XRP at the top of the top 10 coins on the day.
Among the top 100 coins by market cap, only Stellar (XLM), which was ranked 18th at the time of writing, posted higher gains. According to crypto.news price data, XLM changed hands by around $0.4, up more than 29% in the last 24 hours.
XRP’s uptrend pushed the altcoin’s weekly performance back into the green after recent bearish moves. Meanwhile, the market capitalization rose to over $132 billion and daily trading volume increased by more than 36% to $6.3 billion.
Over the last 24 hours, XRP fluctuated between $2.08 and $2.32. Although the coin posted significant gains on the day, it is still down by more than 14% in the last 30 days. However, with crypto sentiment largely bullish for 2025, bulls may fancy their chances of a new all-time high, which is currently about 38% below the 2018 peak of $3.40.
XRP rose double digits despite Ripple’s wallet receiving 300 million XRP worth over $649 million. Whale Alert highlighted the transaction via X on January 1st.
The transfer is part of the monthly unlocking of the escrow account for XRP and occurs in a month in which US President-elect Donald Trump will take office. His election victory and pro-crypto stance is one of the catalysts that contributed to the rise in XRP price.
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