Bitcoin Surges Past $104K While XRP Eyes $4 Milestone as Trump Government Shows Crypto-Friendly Attitude

As Bitcoin trades beyond $104,000 and XRP leaps 50% in January, the cryptocurrency market has started 2025 with amazing force.

Bitcoin Surges Past $104K, XRP Surges 50% In January: Daily Crypto Signals

The cryptocurrency market has started 2025 with amazing force as Bitcoin trades beyond $104,000 and XRP has already surged by 50% in January.

These movements come as the Trump administration is showing a crypto-friendly attitude with Ripple Labs already having some notable legislative successes.

Here are the key highlights for today, January 23.

Crypto Market Shows Strength In 2025

As President Trump’s administration is showing aggressive support for digital asset innovation, the crypto scene is undergoing a transforming change. However, the European Central Bank maintains its cautious approach with President Christine Lagarde dismissing Bitcoin as a possible reserve asset.

On the state level, Illinois has also suggested a novel measure that would create a state-run Bitcoin reserve with a required five-year retention time.

Bitcoin Crossed $106K Before Dipping

Bitcoin has had a strong start to 2025, surging by 13.5% in January and crossing the $106,000 price point. Benefiting from new accounting laws that now allow companies to record crypto assets at market value, Tesla revealed a notable $600 million gain on its Bitcoin holdings in Q4 2024.

Despite the good momentum, three main elements are now restricting additional development. These include fears about a global economic slowdown, volatility in the AI industry, and the rate of institutional adoption.

Can XRP Price Touch $4 Soon?

XRP has been one of the best performers in the market with an impressive surge of 50% in January, outpacing both Bitcoin and Ethereum.

Following Ripple Labs’ regulatory triumphs – including the New York Department of Financial Services’ acceptance of its RLUSD stablecoin and the acquisition of money transmitter licenses in both Texas and New York – the rise tracks Technical analysts advise that XRP might aim for a breakthrough above $4 before February ends.

Solana Stablecoin Supply Surges 73% Since Mid-January: TRUMP Effect

Solana’s ecosystem has grown remarkably with its stablecoin supply climbing by 73% since mid-January. Now reaching $11.1 billion, the network has overtaken BNB Chain to become the third-largest blockchain by stablecoin availability.

This rise coincides with the release of the Trump memecoin on the Solana network, which has attracted hundreds of thousands of fresh users.

Litecoin Price Sees 15% Surge on ETF Developments

Litecoin’s price surged by 15% after the SEC accepted Canary Capital’s spot LTC ETF application. The altcoin reached an intraday high of $134, showcasing impressive on-chain metrics with 8.4 million addresses and over 374,000 daily active users.

Whale addresses have also attracted more attention, having amassed 1.83 million LTC since December 2024.

VeChain Price Prediction: $0.14 Target?

VeChain (VET) has registered an 11% gain among the wider market recovery, as experts predict a possible rise to $0.14. The performance of the token corresponds with favorable market mood after President Trump’s intention to designate the US as the “world capital” for crypto and artificial intelligence.

CoinCodex forecasts that VET might reach $0.08 in February and maybe reaching $0.19 by March 2025.