Algorand, XRP and Stellar surge on new wave of broader market optimism

ALGORAND (ALGO), XRP, and Stellar (XLM) prices surged by more than 10% overnight, buoying a crypto market that seems to be finding its footing after a volatile week.

Bitcoin (BTC) climbed above $97,000 in early trading, while Ethereum (ETH) added 1.5%, holding steady in the green.

XRP has caught analysts’ attention as it crossed its 100-day moving average, often viewed as a bullish signal in technical analysis. Ripple Labs CEO Brad Garlinghouse also garnered headlines last week with his photo alongside incoming President Donald Trump, fuelling speculation on future developments. Ripple's anticipated stablecoin launch has further amplified interest.

Meanwhile, macroeconomic news from the US tempered inflation concerns. The Bureau of Labor Statistics' latest data revealed that December’s producer price index (PPI) rose 3.3% year-over-year, edging higher from November’s 3% but falling short of economists' 3.5% projection.

While lower-than-expected PPI figures provided some relief, market experts remain cautious, doubting it will significantly sway the Federal Reserve’s rate-cut strategy for 2025.

As markets digest these developments, attention will likely shift to broader policy signals and potential catalysts such as the presidential inauguration in the coming weeks.

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In the Markets

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Total crypto market cap

$3.39 trillion (+3.1%)

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What Bitcoin did yesterday

Daily high $97,705  |  Daily low $95,149

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Bitcoin market capitalisation

$1.92 trillion (+2.56%)

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Bitcoin 24-hour trading volume

$55.13 billion (-22.62%)

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SP500

+0.11

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Fear and Greed Index

Neutral

‍Source: Coinmarketcap

The Fear and Greed Index measures volatility, market momentum/ volume, social media, surveys, dominance, and Google search trends to gauge market sentiment.

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Bitcoin Relative Strength Index (RSI) (14)

62

Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price, while 30 or below indicates an oversold or undervalued condition.

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Post Script…

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Cautionary Notes

It’s definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.

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