Bitcoin experienced a drop from $93,000 to $88,000, resulting in $120 million in liquidations. XRP, on the other hand, saw a 17% surge in the past 24 hours, outpacing bitcoin and other major cryptocurrencies. This increase in XRP's value comes as the shifting U.S. regulatory climate supports tokens that were previously impacted by the SEC's actions. Traders are speculating that a crypto-friendly Trump administration could benefit tokens associated with U.S.-based companies like Ripple Labs. BTC and major cryptocurrencies fell around 4% due to profit-taking after a period of growth. Fed chair Jerome Powell's hawkish comments also dampened hopes of rate cuts. Despite these temporary setbacks, bullish sentiment for bitcoin and the overall market remains strong.



Other News from Today