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Crypto News

Cryptocurrency Prices January 17: Bitcoin Reaches $102K, XRP Continues to Rise

The cryptocurrency market cap rose to $3.57 trillion, driven by a 2.07% increase.

Total cryptocurrency trading volume reached $161.68 billion, up 3.52% over the past 24 hours.

Stablecoin trading volumes accounted for 90.34% of the total volume of $146.06 billion.

Today’s rise comes as cryptocurrency enthusiasts look forward to the inauguration of Donald Trump next week, which is expected to mark the beginning of a historic pro-crypto government in the United States.

A long-awaited pre-opening “crypto ball” is seen as a potential catalyst for bullish sentiment, with hopes of pushing the digital asset sector to new heights this year.

Slowing inflation and expectations of further interest rate cuts by the Federal Reserve also contributed to positive sentiment.

Bitcoin (BTC) price today

Bitcoin continued its upward trajectory, rising 1.92% over the past 24 hours to $101,611.57.

Bitcoin price reached a high of $102,037 and a low of $97,364.44 in the last 24 hours.

Bitcoin dominance fell slightly by 0.10% to 56.31%.

The cryptocurrency market cap now stands at more than $2 trillion.

Institutional demand played a pivotal role in the rally, with ETFs attracting $98 million in inflows.

Ethereum (ETH) price today

Ethereum price fell 0.37% over the past 24 hours to $3,370.82.

The coin has been trading in a range between $3,265 and $3,394.

Its market value rose to more than $406 billion.

Despite mixed sentiment among institutions, ETH-focused ETFs saw inflows of $55 million.

XRP price today

XRP continued to rise on Friday. The coin has recorded gains of more than 44% in the past seven days.

The price of XRP rose 7% to $3.33, hitting a 24-hour high of $3.39.

Ripple CEO Brad Garlinghouse’s comments about the potential inclusion of XRP in US cryptocurrency reserves sent the coin higher, making it an outstanding performer.

At the CfC conference in St. Moritz, Garlinghouse said that more central banks are considering using cryptocurrencies for their reserves, pointing to improving regulatory frameworks.

Garlinghouse also suggested that evolving regulatory approaches in the US could facilitate the creation of state-controlled reserves that use Ripple’s XRP currency.

His comments came just a day after reports suggested that Donald Trump is open to considering XRP, Solana, and USDC as strategic reserves.

Solana (SOL) price today

Solana stock rose nearly 5%, trading at $212.90.

Trading volume for the currency increased by more than 48%, reaching $6.2 billion.

Its market capitalization has reached $103 billion, as investors show renewed confidence in the growing blockchain ecosystem.

Top gainers and losers in crypto

Several altcoins outperformed the broader market, with Fartcoin (FARTCOIN) and Vechain (VET) leading the pack, both gaining over 17% in 24 hours.

EOS and Litecoin (LTC) also saw double-digit percentage increases.

Not all cryptocurrencies participated in the bullish momentum. ai16z (AI16Z) stock fell by 12%, topping the list of biggest losers. Virtuals Protocol (VIRTUAL) and Pudgy Penguins (PENGU) also posted losses.

Today’s broader crypto price action

BNB (BNB) is currently trading at $715.64, showing a slight decrease of 0.19% in the past hour and a modest increase of 0.34% over the past 24 hours.

The price of KuCoin Token (KCS) is currently $11.21, with a slight decline of 0.15% in the past hour but a positive gain of 0.71% over the past 24 hours.

The value of FTX Token (FTT) is currently at $2.48, having seen a slight increase of 0.44% in the past hour and a more significant gain of 1.77% over the past 24 hours.

BitMart Token (BMX) is currently trading at $0.2996, with a slight increase of 0.07% in the past hour but a slight decrease of 0.18% over the past 24 hours.

OX Coin (OX) price is currently at $0.01831, showing a decline of 0.30% in the past hour and a larger decline of 15.15% over the past 24 hours.

CEL (CEL) is currently at $0.1737, having seen a slight increase of 0.11% in the past hour and a more significant gain of 2.09% over the past 24 hours.

Bybit Staked SOL (BBSOL) is currently trading at $224.06, with a slight decline of 0.10% in the past hour but with a positive gain of 4.70% in the past 24 hours.

The post Cryptocurrency prices on January 17: BTC reaches $102 thousand, and XRP continues its rise appeared first on Invezz

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