Bitcoin Holds Steady Near $96K While XRP Gains Momentum
Bitcoin (BTC) maintained its position around $96,000 after nearing the $100,000 milestone, while XRP’s market capitalization skyrocketed amid speculation about potential regulatory shifts.
The world’s leading cryptocurrency has traded between $90,000 and $100,000 over the past two weeks, reflecting cautious investor sentiment as markets await clearer policy signals from U.S. regulators.
As of Monday, Bitcoin rose marginally by 0.2% to $96,513. The recent rally in crypto markets has been fueled by expectations of a Trump administration adopting more crypto-friendly policies, including proposals like a "Bitcoin Strategic Reserve."
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Profit-Taking and Policy Uncertainty Impact Bitcoin’s Momentum
Bitcoin’s consolidation follows its record-breaking rally, with traders taking profits and awaiting further details on potential regulatory changes.
Key focus areas include:
- Trump’s proposed crypto policies, including plans to position the U.S. as a "global crypto hub."
- Potential leadership changes at the SEC, with rumors of a pro-crypto chair replacing Gary Gensler.
- A possible shift in oversight from the SEC to the CFTC, which is perceived as more lenient toward digital assets.
XRP Overtakes Tether as Third-Largest Cryptocurrency
XRP surged nearly 33% to $2.46, pushing its market cap to $140.1 billion and surpassing stablecoin Tether (USDT). This rally stems from:
- Speculation that the SEC may drop its lawsuit against Ripple.
- Anticipation of a more favorable regulatory environment under new SEC leadership.
Altcoin Market: Mixed Movements Amid Policy Watch
Other major cryptocurrencies showed mixed performance:
- Ethereum (ETH): Fell 0.5% to $3,667.
- Solana (SOL) & Cardano (ADA): Dropped 3%-5%.
- Polygon (MATIC): Gained 4.3%.
- Dogecoin (DOGE): Rose 2%.
Investors remain cautious, weighing geopolitical factors like Trump’s proposed tariffs on BRICS nations against crypto policy optimism.
Key Takeaways
- Bitcoin’s price stability near $96K reflects a balance between bullish sentiment and profit-taking.
- XRP’s meteoric rise highlights how regulatory shifts can drive volatility.
- Altcoins are treading carefully, with Ethereum and memecoins like Dogecoin showing selective strength.
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FAQ Section
Why is Bitcoin’s price stuck near $96K?
Bitcoin is consolidating after a historic rally, with traders awaiting clearer policy signals from the U.S. government.
What’s driving XRP’s surge?
XRP’s gains are tied to rumors of the SEC dropping its case against Ripple and potential pro-crypto leadership changes.
How are altcoins performing?
Altcoins are mixed—Ethereum is slightly down, while Polygon and Dogecoin have posted gains.
What’s next for crypto markets?
Markets will likely remain volatile until U.S. crypto policies become clearer, particularly under a potential Trump administration.
Is now a good time to invest in crypto?
While opportunities exist, investors should prioritize research and risk management due to ongoing regulatory uncertainty.
Trading cryptocurrencies involves significant risk. Past performance does not guarantee future results. This content is for informational purposes only and not investment advice.
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