Bitcoin’s price remained stable on Monday, trading at around $96,513, just below the crucial $100,000 threshold. Meanwhile, XRP emerged as a standout performer, surging nearly 33% on growing speculation that the U.S. Securities and Exchange Commission (SEC) could drop its long-standing lawsuit against Ripple.
Bitcoin Price Stabilizes Below $100K Amid Profit-Taking
Bitcoin has been in a consolidation phase over the past two weeks, fluctuating within a range of $90,000 to $100,000 after reaching record highs. Despite briefly touching an all-time high above $99,000, some optimism surrounding Bitcoin’s price growth has cooled, with traders awaiting clearer signals on U.S. economic and regulatory policies.
As of 00:49 ET (05:49 GMT), Bitcoin was trading at $96,513.2, a modest 0.2% increase for the day. This latest price action comes after a market rally that was largely driven by optimism over a potential Donald Trump presidency. Traders are hopeful that a Trump-led administration will bring friendlier crypto regulations, which could further propel Bitcoin’s growth.
Bitcoin Faces Profit-Taking and Policy Uncertainty
The recent rangebound performance of Bitcoin can be attributed to a mix of profit-taking at record levels and a wait-and-see approach on U.S. policy. After hitting its historic highs, many traders opted to lock in profits, leading to the current price stagnation.
Attention has now shifted to the policies of a potential Trump administration. Trump has promised to make the U.S. the global “crypto capital,” even suggesting the creation of a Bitcoin Strategic Reserve. His appointments for Treasury Secretary and Secretary of Commerce are expected to be pro-crypto, with reports indicating that Trump may also choose a pro-crypto candidate to lead the SEC. This shift in leadership could have a significant impact on how cryptocurrencies are regulated in the U.S., leading traders to await more clarity on the direction of policy.
XRP Surges 33% on SEC Lawsuit Speculation
XRP was one of the top performers in the market on Monday, surging nearly 33% to $2.46. This price movement propelled XRP to become the third-largest cryptocurrency by market capitalization, surpassing stablecoin Tether (USDT) with a market cap of $140.13 billion, according to CoinMarketCap.
The rally was largely driven by speculation surrounding the SEC’s ongoing lawsuit against Ripple, the issuer of XRP. With the resignation of SEC Chair Gary Gensler confirmed as part of the transition to a Trump presidency in January, traders are optimistic that new leadership at the SEC could lead to a dismissal of the case. Former SEC Commissioner Paul Atkins, a known supporter of digital assets, is rumored to be in line for the role of SEC Chair.
In addition, market participants speculated that the Commodity Futures Trading Commission (CFTC), which is generally considered more crypto-friendly than the SEC, might take over regulation of the crypto sector under the new administration. Such a shift could ease regulatory pressure on XRP and other digital assets, further fueling the optimism behind XRP’s recent price surge.
Crypto Market Today: Altcoins Rangebound Amid Policy Uncertainty
The broader cryptocurrency market showed mixed performance on Monday. Most altcoins remained rangebound as traders awaited more policy cues from the U.S. and global economic updates. Risk appetite was further shaken by concerns over Trump’s threat to impose steep tariffs on the BRICS countries (Brazil, Russia, India, China, and South Africa), which could add volatility to global markets.
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, fell 0.5% to $3,667. Meanwhile, other major altcoins like Solana (SOL) and Cardano (ADA) experienced declines between 3% and 5%. On the other hand, Polygon (MATIC) saw a 4.3% increase, highlighting continued investor interest in scaling solutions.
In the meme coin sector, Dogecoin (DOGE) rose 2%, continuing its pattern of mild volatility as traders monitored broader market sentiment.
Conclusion: Bitcoin and XRP in Focus Amid Regulatory Shifts
The cryptocurrency market is experiencing a period of consolidation, with Bitcoin stabilizing just below the $100,000 mark and altcoins largely rangebound. The uncertainty surrounding U.S. regulatory policies, especially regarding the potential shift from the SEC to the CFTC, has created a cautious atmosphere among traders. However, XRP’s impressive 33% surge highlights the market’s strong reaction to potential regulatory changes, with speculation that the SEC may drop its lawsuit against Ripple under new leadership.
As market participants continue to monitor U.S. policy shifts, Bitcoin’s outlook remains positive, but its growth is currently tempered by profit-taking and regulatory uncertainties. On the other hand, XRP’s rise signals that regulatory clarity, especially for altcoins, could play a pivotal role in driving future price movements across the broader crypto market.
