Crypto prices on Jan 17: BTC hits $102k, XRP continues bull run

The crypto market cap surged to $3.57 trillion, driven by a 2.07% increase.

The cryptocurrency total trading volume stood at $161.68 billion, up 3.52% in the last 24 hours.

Trading volumes for stablecoins accounted for 90.34% of the total volume at $146.06 billion.

The surge today comes as crypto enthusiasts are looking forward to Donald Trump’s inauguration next week, which is expected to mark the beginning of a historic pro-crypto government in the United States.

The much-anticipated “Crypto Ball” ahead of the inauguration is seen as a potential catalyst for bullish sentiment, with hopes of driving the digital asset sector to new heights this year.

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

Bitcoin (BTC) price today

Bitcoin continued its upward trajectory, climbing 1.92% in the past 24 hours to reach $101,611.57.

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

Bitcoin’s dominance dipped slightly by 0.10% to 56.31%.

The cryptocurrency’s market capitalization now stands at over $2 trillion.

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

Ethereum (ETH) price today

Ethereum was down 0.37% in the last 24 hours to hit $3,370.82 .

The coin traded within a range of $3,265 to $3,394.

Its market cap climbed over $406 billion.

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

XRP price today

XRP continued its rally on Friday. The coin has registered gains of over 44% in the past seven days.

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

Ripple CEO Brad Garlinghouse’s comments about the potential inclusion of XRP in US crypto reserves fueled the rise in the coin, making it a standout performer.

At the CfC St. Moritz conference, Garlinghouse said that more central banks are considering using cryptocurrencies for their reserves, citing improved regulatory frameworks.

Garlinghouse also suggested that the evolving regulatory approaches in the United States could potentially facilitate the creation of state-controlled reserves that utilize Ripple’s XRP.

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

Solana (SOL) price today

Solana went up close to 5%, trading at $212.90.

Trading volume for the coin was up over 48% at $6.2 billion.

Its market cap reached $103 billion, as investors showed renewed confidence in the blockchain’s growing ecosystem.

Top crypto gainers and losers

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

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

Not all cryptocurrencies shared in the bullish momentum. ai16z (AI16Z) fell 12%, leading the list of top losers. Virtuals Protocol (VIRTUAL) and Pudgy Penguins (PENGU) also posted losses.

Broader crypto price action today

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

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

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

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

OX Coin (OX) is currently priced at $0.01831, showing a decrease of 0.30% in the last hour and a more substantial decline of 15.15% over the past 24 hours.

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

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