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Market Update: Ripple Rises, Bitcoin Steady

The crypto market is waking up. After a quiet New Year's Day, Bitcoin, Ethereum, and others post their first gains.

By Mike Hesp
• 2 min read
Market Update: Ripple Rises, Bitcoin Steady

The crypto market is waking up. After a quiet New Year's Day, Bitcoin, Ethereum, and others log their first price gains. The total market capitalization stands at $3.36 trillion, up nearly 3 percent from the day prior. As of writing, Bitcoin is trading at $95,560 and has gained 2.2% in the last 24 hours. Compared to last week, the leading cryptocurrency is down 2.7%.

Ethereum is trading at $3,400, up 2.3% from the previous day. Despite strong net inflows into ETFs, Ethereum's all‑time high of $4,891 from November 2021 remains well out of reach.

On the other hand, XRP continues to grab headlines in the new year, jumping 10.6% in the same period. The Ripple coin is back at $2.36 and inching toward its 2024 year high.

In an X post, Ripple CEO Brad Garlinghouse sounds optimistic: "Happy New Year to the XRP family and the entire crypto community! I’m looking forward to the year ahead!"

View post on X

Meanwhile, some altcoins show even bigger gains: compared with the previous day, Virtual Protocols (VIRTUAL) up 24.1%, Stellar (XLM) up 19.4%, and Chainlink (LINK) up 10.8%.

After the rally, the Fear & Greed Index is back in "Greed" territory at a score of 70. At year-end it briefly slipped into the neutral zone.

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