Bitcoin Maintains $96K as Crypto Market Demonstrates Resilience, XRP Eyes $5 Target

The cryptocurrency market continues to demonstrate resilience as Bitcoin maintains a steady trading position above $96,000, while XRP is eyeing a potential target of $5.

Cryptocurrency markets displayed resilience on 15th January 2025, with Bitcoin (BTC) maintaining a trading position above $96,000 and XRP (XRP) eyeing a potential target of $5.

At the latest update, Bitcoin was trading at approximately $96,800, contributing to a total cryptocurrency market capitalisation exceeding $3.3 trillion.

A wave of optimism in the markets was largely attributed to President-elect Donald Trump’s pro-crypto stance, the successful launch of Bitcoin exchange-traded funds (ETFs), and increasing institutional interest. Notably, JPMorgan projected significant inflows into new crypto ETFs, including Solana and XRP.

Despite a recent dip below $89,000, Bitcoin showed remarkable recovery, with its total assets under management rising from $27 billion to $109 billion over the past year. Analysts suggested that upcoming legislative initiatives, such as the proposed BITCOIN Act, could further bolster the market by establishing a strategic reserve of one million BTC.

While not experiencing the same explosive growth as Bitcoin, Ethereum (ETH) saw a 65% increase in 2024, currently trading around $3,220. However, it faced stiff competition from emerging smart contract platforms despite recent upgrades.

XRP surged 12% in the past 24 hours, currently trading at $2.80, with expectations of a spot XRP ETF potentially attracting $4 to $8 billion in new investments. Market analysts anticipated that XRP could reach between $2.41 and $4.74 in 2025, with some projections suggesting it may hit $5 in the first quarter.