Back to the Green Track

Ripple's XRP performed quite shaky between Christmas and New Year's Eve, with its price briefly plunging below $2. However, the bulls stepped in on the first two days of 2025.

The price of Ripple’s XRP dropped below $2 between Christmas and New Year’s Eve. However, the bulls pushed the valuation as high as $2.42 on the first two days of 2025. As of press time, XRP is trading at about $2.37, showcasing an 11% increase on a 24-hour basis.

One factor that might be contributing to the solid gains is the overall strength in the cryptocurrency market. Bitcoin (BTC) went above the $95,000 mark, Ethereum (ETH) crossed $3,400, while Solana (SOL) scored a 9% daily increment to reach $206.

Other top digital assets in the green today include Dogecoin (DOGE), Cardano (ADA), Stellar (XLM), and many more. Meanwhile, the total market capitalization of the crypto sector has crossed the $3.5 trillion mark again.

Sam Bennington, the director of over-the-counter (OTC) derivatives at Factor+, noted that the market is "still quite strong" despite the recent volatility. He added that the lack of arbitrage opportunities between spot and futures markets might be a factor contributing to the current sideways trading. Bennington also mentioned that the market is "not necessarily expecting" any immediate interventions from the U.S. government.

Despite the recent setbacks, Bennington remains optimistic about the long-term prospects for cryptocurrencies. "We are still in the early stages of a bull market," he said. "I think there is more to come in the next 12 months."

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One X user on Threads noted that prices “may only be getting ready to come out of an ‘Intermission Phase’ before yet another ‘groundbreaking' bullish rally! It may be time to strap in.”

Another X user, Martinez, envisioned a “big movement” based on the squeezing Bollinger Bands. The technical indicator, developed by John Bollinger in the early 1980s, helps traders detect when an asset may be overbought or oversold and spot possible price breakouts or trend reversals.