• XRP soared to $2.5, with a market cap surpassing BNB and Solana.

  • WIF, SOL, ALGO, and THETA are preparing for the next move in the crypto market.

  • Analysts predict that the BTC price will reach $250,000 in the next 12 months.

The token XRP of Ripple soared to $2.5 in the early morning trading on Monday, surpassing BNB and Solana, ranking third in cryptocurrency on CoinMarketCap. This rise is consistent with the growing market optimism and significant adoption initiatives from the government and institutions, driving demand for digital assets.

In a podcast, Altcoin Daily's host emphasized Russian President Vladimir Putin's decision to sign legislation recognizing cryptocurrencies as property. This move exempts Bitcoin mining and sales from value-added tax, positioning Russia ahead of the U.S. in cryptocurrency-friendly policies. Meanwhile, the incoming U.S. president has promised to make the country a global cryptocurrency hub and plans to implement supportive measures.

Considering recent developments, many cryptocurrency analysts are re-evaluating their price predictions for Bitcoin, with most raising their targets to between $225,000 and $250,000 by 2025. Analysts believe that Trump's potential re-election as U.S. president in the coming weeks could be the most significant tailwind in this bull market.

From various signs, the restoration of regulation will allow the new president to fulfill campaign promises, including making the U.S. the world's cryptocurrency capital. A specific task that Trump promised to complete is to fire the current chairman of the U.S. Securities and Exchange Commission, Gary Gensler, who most believe is the mastermind behind the 'unfair' treatment of the cryptocurrency industry.

As ALGO, WIF, SOL, and THETA rise, the altcoin market heats up.

Various altcoins are riding the wave of the bull market, reflecting immense market momentum. Algorand (ALGO) has surged over 380% in the past month, reaching $0.5 for the first time since May 2022. Dogwifhat (WIF) memecoin, Solana (SOL), and Theta Network (THETA) have also experienced increases, although prices have recently adjusted, analysts believe this is another consolidation before a rebound.