Bitcoin steadied at $96,513.2 while XRP surged 33% to $2.46 due to speculation about regulatory changes. Anticipation surrounds the Trump administration’s policies on cryptocurrencies, with market traders seeking clarity. Bitcoin remains in a trading range below $100,000 as investors assess the impact of potential regulatory shifts.

On Monday, Bitcoin maintained a steady price of approximately $96,513.2, having recently stabilized within a trading range between $90,000 and $100,000. This follows a period of volatility where the leading cryptocurrency reached a peak just below the $100,000 mark. Market sentiment has been influenced by speculation surrounding the upcoming policies of the Trump administration, with traders looking for signals on future crypto regulations. Furthermore, XRP emerged as a notable performer, witnessing a nearly 33% increase to $2.46, bolstered by conjecture regarding a potential resolution of the SEC lawsuit against its issuer, Ripple. Reports suggest that the SEC could undergo a leadership change, with Gary Gensler stepping down and possible replacement Paul Atkins advocating for a more favorable regulatory environment for digital assets.

Bitcoin, as the premier cryptocurrency by market capitalization, is often seen as a bellwether for the entire crypto market. Recent fluctuations in its value have been attributed to profit-taking activities following record highs, as well as uncertainty regarding regulatory frameworks. The anticipated policies of a new U.S. administration promise to have a significant impact on the cryptocurrency landscape, particularly with respect to institutional adoption and regulatory clarity. XRP’s price movement is also noteworthy, particularly against the backdrop of a possible shift in the SEC’s approach to digital assets, which could influence its ongoing legal challenges.

In summary, Bitcoin is currently trading around $96,000, showing resilience amid profit-taking and regulatory uncertainty. XRP has gained significant momentum, likely driven by optimistic forecasts regarding the potential easing of its legal battles with the SEC. Overall, traders are cautiously optimistic as they await clearer signals from the incoming U.S. administration on their stance towards cryptocurrencies. The actions of regulatory agencies like the SEC and the Commodity Futures Trading Commission will be critical in determining the future direction of the market.

Original Source: www.investing.com

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