XRP has seen a significant surge of 11% as of Thursday, led by $1.3 billion worth of trading volumes on Korea-focused exchange Upbit. This outperformance is attributed to South Korean exchanges, which have historically acted as a harbinger for price volatility with a bias to the upside.
Other crypto majors also saw substantial gains, including Cardano’s ADA, Solana’s SOL, and Chainlink’s LINK, adding 8% or more. Ether (ETH) and BNB rose 3%, while memecoins dogecoin (DOGE) and shiba inu (SHIB) added 5%.
The anticipation of a more crypto-friendly administration under incoming US President Donald Trump is fueling optimism for 2025. The Bitcoin halving event in 2024 has historically led to a bullish trend in the following year, with memecoins, AI, and real-world assets expected to be market leaders.
Firms such as Galaxy Research predict large-scale institutional adoption of bitcoin investments, targeting a $185,000 level for BTC this year. Singapore-based QCP Capital also mirrors this sentiment, citing the potential for a bullish year post-Trump inauguration.
Experts believe that mainstream adoption of bitcoin may further reduce its volatility, leading to increased adoption among institutional firms. As bitcoin becomes more correlated with traditional assets, it is expected to bring diversification benefits and alpha to traditional portfolios.
Source: https://www.coindesk.com/markets/2025/01/02/xrp-rockets-11-as-bitcoin-starts-new-year-with-bullish-bang