- XRP surges to $2.5, flipping BNB and Solana in market capitalization.
- WIF, SOL, ALGO, and THETA prepare for the crypto market’s next move.
- Analysts predict $250,000 BTC in the next 12 months.
Ripple’s token, XRP, surged to $2.5 early Monday, overtaking BNB and Solana to secure the third position among cryptocurrencies on CoinMarketCap. The rally aligns with growing market optimism and significant adoption moves by governments and institutions driving demand for digital assets.
In a podcast, the Altcoin Daily presenter highlighted Russian President Vladimir Putin’s decision to sign legislation recognizing cryptocurrency as property. This move exempts Bitcoin mining and sales from VAT, positioning Russia ahead of the U.S. in crypto-friendly policies. Meanwhile, the incoming U.S. president has pledged to make the country the global crypto hub, with plans to implement supportive measures.
Considering the recent developments, many crypto analysts are reviewing their Bitcoin price predictions, with most increasing their targets to between $225,000 and $250,000 BTC in 2025. Analysts believe that Trump’s resumption in office as the next U.S. President in the next few weeks could be the most significant tailwind in the current bull run.
Read also: $100K BTC: Crypto Analyst Breaks Down the Dynamics of Bitcoin’s Current Cycle
From all indications, the resumption will allow the incoming president to fulfill his campaign promises, which include making the U.S. the crypto capital of the world. One specific task Trump promised to accomplish is firing Gary Gensler, the current U.S. SEC chair, who most people believe is behind the ‘unfair’ treatment the crypto industry is receiving.
Altcoin Market Heats Up as ALGO, WIF, SOL, and THETA Rally
Several altcoins are riding the bullish wave, reflecting significant market momentum. Algorand (ALGO) soared over 380% in the past month, reaching $0.5 for the first time since May 2022. The Dogwifhat (WIF) memecoin, Solana (SOL), and Theta Network (THETA) have also experienced gains despite recent price corrections, which analysts view as consolidation before another rally.
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