Ripple (XRP) Price Resurgence, Shiba Inu (SHIB) Burning Efforts and More: January 3 Bit Recap

TL;DR

• Ripple (XRP) surged 15% in early 2025, surpassing $2.40, potentially boosted by the overall market recovery and Trump’s upcoming inauguration.
• 44.6 billion Shiba Inu tokens (SHIB) were burned in 2024, reducing supply to 584.1 tonnes and increasing scarcity.
• Bitcoin (BTC) rebounded from a late 2024 decline to briefly cross $97,000. Analysts are predicting a potentially breakout 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 saw a substantial correction just before New Year’s Eve. Its price briefly dipped below $2, while the market cap dropped to around $115 billion. of dollars.

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

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

“January 20 is around the corner. Donald Trump will be at the WH, and we are going make crypto great again!

The Republican emerged victorious in the US presidential elections in November last year and will officially become the 47th political leader of the United States in less than three weeks. The community seems excited about his return to the White House because of his many pro-crypto promises. We have yet to see if he will keep his word and allow the local digital asset industry to thrive during his reign.

The SHIB burning mechanism

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

Earlier this week, the team announcement that over 44.6 billion tokens (worth approximately $1 million) were burned throughout 2024.

Initially, SHIB had a total reserve of one quadrillion tokens. years agoHowever, half of this amount was sent to Ethereum co-founder Vitalik Buterin, who donated billions of SHIB to charities and burned the remaining reserve.

As of the moment As of this writing, the circulating supply of the meme coin stands at approximately 584.1 trillion.

BTC is also heading north

As the leading cryptocurrency fell to its lowest level in a month, below $92,000, December 30he returned to the green slope the following days. The price exceeded $97,000 on January 2while currently, it is set at around $96,300.

Many markets observers believe 2025 could be another successful year for BTC. Users X Crypto Rover and Doctor Profit are among the optimists, setting goals of $120,000 and $125,000, respectively.

Trader Tardigrade presented an even more optimistic forecast, seeing a rise of up to $280,000 this year.

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