Ripple’s (XRP) Price Resurgence, Shiba Inu’s (SHIB) Fierce Efforts and More: Bit Summary January 3

TL;DR

Ripple (XRP) surged 15% in early 2025, topping $2.40, potentially boosted by the overall market recovery and Trump’s upcoming inauguration. In 2024, 44.6 million Shiba Inu tokens (SHIB) were burned, reducing the supply to 584.1 T and increasing the shortage. Bitcoin (BTC) recovered from a late-2024 slump to briefly surpass $97,000. Analysts predict a potentially stellar year, with price targets ranging from $120,000 to $280,000. XRP starts 2025 off on the right foot

Despite performing quite impressively in the fourth quarter of 2024, Ripple’s native token experienced a substantial correction just before New Year’s Eve. Its price briefly fell below $2, while its market capitalization shrank to roughly $115 billion.

However, the bulls intervened in early 2025, pushing XRP back into green territory. The asset is currently worth over $2.40 (according to data from CoinGecko), representing a 15% increase since the first day of the year.

XRP Price, Source: CoinGecko

Some factors that could have contributed to the rally include the overall recovery of the crypto market and the resurgence of some important metrics related to XRP. The asset’s price jump also coincides with the escrow’s monthly XRP token release. This time, the company announced the effort with an interesting note:

“January 20 is just around the corner. Donald Trump will be in the WH and we will make crypto great again!

The Republican emerged victorious from the US presidential election last November and will officially become America’s 47th political leader in less than three weeks. The community seems excited about his return to the White House due to his many pro-crypto pledges. We have yet to see if he will keep his word and allow the local digital asset industry to thrive during his rule.

Combustion mechanism of SHIB

The team behind the popular meme coin adopted a burning program in 2022 that allows the community to voluntarily send tokens to a null address. This leads to scarcity and could make SHIB more valuable (assuming demand doesn’t head south).

Earlier this week, the team announced that more than 44.6 billion tokens (worth roughly $1 million) were burned throughout 2024.

Initially, SHIB had a total supply of one quadrillion tokens. Years ago, however, half of this amount was sent to Ethereum co-founder Vitalik Buterin, who donated trillions of SHIB to charity and burned the remaining deposit.

At the time of writing, the circulating supply of the meme coin is around 584.1 trillion.

BTC is also heading north

Although the major cryptocurrency fell to a one-month low of less than $92,000 on December 30, it returned to the green lane in the following days. The price broke above $97,000 on January 2, while it is currently pegged around $96,300.

BTC Price, Source: CoinGecko

Many market watchers think that 2025 could be another successful year for BTC. Users of X Crypto Rover and Doctor Profit are among the bullies, setting targets of $120,000 and $125,000, respectively.

Trader Tardigrade outlined an even more bullish forecast, predicting a pump to $280,000 sometime this year.

“If you miss the BTC peak in 2025, you will have to wait until 2029,” suggested the analyst.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

LIMITED OFFER for CryptoPotato readers on Bybit – Use this link to register and open a FREE $500 position with any currency!