XRP, one of the leading cryptocurrencies by market capitalization, has kicked off the year with an impressive 11% surge. The cryptocurrency’s price action has placed it among the best-performing altcoins in the market, overshadowing other major coins like Ethereum (ETH) and even Bitcoin to some extent.
This strong performance follows a dominant fourth quarter in 2024, where XRP’s price exhibited remarkable resilience, securing its position as one of the top assets in the crypto space. As reported, the cryptocurrency closed the year with significant gains, showing bullish momentum heading into January 2025.
**XRP’s Impressive Gains**
In the past 24 hours, XRP’s price surged by more than 11%, signaling investor optimism and strong demand for the asset. This rally has captured attention, as the cryptocurrency’s performance has outpaced other major players in the market. Despite the volatility often seen in the cryptocurrency space, XRP has remained one of the standout performers, and its recent price increase reinforces the growing interest in the asset.
Data from Coin Gecko, a well-known cryptocurrency tracking site, highlights XRP’s significant performance over the past 24 hours. In fact, XRP has outperformed many other altcoins, including Ethereum (ETH), which is considered one of the biggest competitors in the market. The latest surge follows a positive trend for XRP, which was recently noted for securing its best yearly close in December 2024.
**XRP Shorts Liquidated**
Another key factor contributing to XRP’s strong performance is the liquidation of short positions. According to CoinGlass, over $7 million worth of XRP shorts were liquidated within a 24-hour period. This mass liquidation has helped fuel XRP’s rise, as traders who bet against the asset were forced to close their positions, leading to further upward pressure on the price.
Exchanges such as OKX, Binance, and Coin Ex saw the highest levels of liquidations, with short positions accounting for nearly 80% of the wipeout. This phenomenon often contributes to sharp price movements, especially in the volatile cryptocurrency market.
**Stellar (XLM) Steals the Show**
While XRP has certainly made an impact with its 11% increase, its rival, Stellar (XLM), has been the true star of the day. XLM has seen an extraordinary rise, surging by over 100% in just 24 hours. This impressive performance places Stellar at the top of the leaderboard among the top 100 cryptocurrencies.
The strong correlation between XRP and XLM is not a coincidence. Both assets are often viewed similarly by investors due to their shared history. Stellar was created by Jed McCaleb, a co-founder of Ripple, and this connection has led many investors to treat the two cryptocurrencies as part of the same ecosystem.
However, despite the similarities, McCaleb recently emphasized the key differences between XRP and XLM. He pointed out that while both tokens are part of the Ripple legacy, they have distinct features and consensus mechanisms that set them apart. This divergence could influence how the market perceives each token going forward.
**Other Altcoins Join the Rally**
Aside from XRP and XLM, several other altcoins have also made impressive gains in the past 24 hours. Algorand (ALGO) has risen by more than 13%, while Hedera (HBAR) has gained over 9%. Cardano (ADA) has also been among the top performers, continuing to capture investor interest.
The cryptocurrency market is seeing strong momentum as we enter 2025, with various assets demonstrating robust price action. Investors are clearly looking for new opportunities, and the recent gains across the board suggest a healthy appetite for riskier assets in the market.
**Conclusion**
XRP’s 11% price surge marks a strong start to the year, signaling that the cryptocurrency could continue its positive trend in 2025. However, Stellar (XLM) has undoubtedly stolen the spotlight with its remarkable 100% gain, reminding investors that the crypto market can still deliver astonishing returns.
As the year unfolds, the correlation between XRP and XLM will continue to be of interest, especially with the differing opinions on their future potential. Regardless of the rivalry, both assets are showing significant promise, and investors will be closely monitoring their next moves.
With other altcoins like Algorand, Hedera, and Cardano also seeing impressive growth, the cryptocurrency market is poised for another exciting year. For those holding XRP, the recent gains and market movements suggest that the cryptocurrency could continue to be a strong player in 2025.
