Digital currencies like Dogecoin, Bitcoin, and XRP are bouncing back strongly after a steep drop earlier this week. Dogecoin, in particular, surged by 11% on Tuesday, quickly recovering to $0.357, almost reaching its value from a week ago. Despite this recovery, it is still down by 12% over the past month, despite a strong in December.
XRP experienced a significant increase in value, rising by 9% to reach $2.66, which is the highest it has been in 2025. This surge brings XRP close to its peak of $2.82 from seven years ago in December. The price jump coincides with a positive outlook for potential XRP ETF approvals. Ripple, the entity associated with XRP, is strengthening its connections to the new administration, as CEO Brad Garlinghouse and CLO Stuart Alderoty recently met with President-elect Donald Trump, contributing to the cryptocurrency’s upward trend.
After plummeting on Monday, Bitcoin has staged a remarkable comeback, with its value now standing at $96,905, marking a daily gain of 5%. Other major cryptocurrencies, including Ethereum and Solana, are also experiencing an uptick, with Ethereum surging than 5%. This widespread resurgence comes on the heels of concerns about prolonged high interest rates into 2025, which had previously sent the market into a tailspin.
According to CoinGlass data, a significant $300 million in futures contracts were forcibly closed in the last 24 hours, with the majority being short positions. While Bitcoin Notably, XRP stood out surpassing that of other prominent cryptocurrencies, driven in part by Ripple’s on XRP exchange-traded funds.
in these digital currencies indicates that investors are once again feeling optimistic, shrugging off previous worries about economic indicators such as interest rates. As prominent cryptocurrencies like Bitcoin, Ethereum, and near future.
