The altcoin market, led by Ripple Labs’ $XRP and Cardano ($ADA ), has witnessed a notable rebound as global markets reopen for 2025. Bitcoin ($BTC ) has gained approximately 2% over the past 24 hours, trading around $95,323 during the early European session on Thursday, January 2. In parallel, the TOTAL3 index—which excludes Ethereum (ETH) and BTC—has added over $13 billion, reaching approximately $985 billion.
From a technical perspective, the altcoin market is gearing up for a significant breakout following a strong bullish close to 2024. This optimism is bolstered by a fundamentally positive outlook for the cryptocurrency industry, fueled in part by Donald Trump’s re-election to the White House. Additionally, an influx of institutional investment into the Web3 sector underscores the ongoing macroeconomic bull run.
Midterm Price Targets for Cardano (ADA) and Ripple’s XRP
Cardano (ADA)
Cardano, a leading layer-one blockchain, has gained considerable traction due to continuous network upgrades and strategic partnerships. The recent Chang hard fork has enhanced the blockchain’s functionality and decentralized governance mechanisms, further solidifying its position in the market.
Cardano’s price momentum has been particularly strong, with ADA closing Q4 of 2024 with over 140% growth. The cryptocurrency has started 2025 on a similarly bullish note, rallying more than 8% in the past 24 hours to trade at approximately $0.92 at the time of writing.
On the daily chart, ADA must decisively break above the 50-day moving average and consistently close above its falling logarithmic trendline to confirm a bullish reversal and invalidate the previous correction.
Ripple’s XRP
Ripple Labs’ XRP has remained at the forefront of market attention, thanks to recent regulatory developments. The appointment of Paul Atkins, a pro-crypto advocate, as the new chair of the U.S. SEC, replacing Gary Gensler, has provided a boost to market sentiment.
XRP, with a fully diluted market capitalization of approximately $236 billion and a 24-hour trading volume of around $10 billion, has surged by over 10% in the past 24 hours, trading at approximately $2.35 at the time of writing.
This strong performance positions XRP as a key player in the ongoing altcoin rally, supported by improved investor confidence and increasing institutional adoption of digital assets.
Conclusion
The cryptocurrency market is demonstrating strong bullish momentum as 2025 begins, led by major players like ADA and XRP. With continued technical and fundamental advancements, the altcoin sector is poised for further growth, making it a focal point for both retail and institutional investors.