XRP and XLM are up significantly this morning as part of the altcoin rally at the start of the new year 2025, reflecting a state of optimism and activity in the crypto market again after the stagnation and decline at the end of 2024.
Ripple has gained nearly 15% in the past 24 hours, hitting a daily high of $2.44 during early Asian trading on January 2.
The number recorded in the Ripple price this morning is the highest price XRP has reached since mid-December after touching $2.90 in early December.
The price of $2.90 is the highest level for XRP in seven years, before it fell to $2 by the end of the month.
CEO Brad Garlinghouse expressed optimism about further adoption and practical use of the currency.
XLM Coin Catches Up:
XRP's sister coin, XLM, also performed well, rising 28% on the day to $0.456.
XLM is still down 50% from its all-time high in 2018, but is currently benefiting from positive market momentum.
Other coins such as Cardano also saw a 10% rise to $0.95, while AVAX, LINK, and HBAR also made notable gains.
On the other hand, Bitcoin recorded a slight increase of 1.3% to reach $95,000.
The coin has been in a state of consolidation since falling below $100,000 last month, with its dominance falling to 53.7%.
Analysts expect altcoins to see a significant surge in the coming months, if Bitcoin's dominance continues to decline.