Bitcoin price today: steady at $96k, XRP surges on regulatory hopes

 Bitcoin Price Stabilizes Below $100K as Regulatory Developments Influence Crypto Market 

Bitcoin stabilized on Monday after entering a trading range just below the critical $100,000 mark, with XRP emerging as a standout performer due to speculation that the U.S. Securities and Exchange Commission (SEC) might drop its ongoing lawsuit against Ripple, the XRP issuer. 

 Bitcoin Keeps Steady Amid Expectation of US Policy Clues

The world’s largest cryptocurrency, Bitcoin, did little over the past two weeks but stayed stuck between $90,000 and $100,000 after experiencing a series of record-high days.

Though it hovered around the $99,000 level, market optimism cooled as traders awaited clearer signals on changes in U.S. policy under President-elect Donald Trump.

Bitcoin rose 0.2% from Monday at 00:49 ET (05:49 GMT), trading at $96,513.2. This comes after a rally in the cryptocurrency market fueled by speculations that a Trump presidency would mean more crypto-friendly regulations. 

 Profit-Taking Limits Bitcoin’s Momentum

Bitcoin’s recent rangebound movement also reflected profit-taking by traders at record highs. The action, though subdued, remains interestedly waiting for more details about the policies of Trump’s administration, which has indicated considerable support for digital assets.

Trump has promised to make the U.S. a world capital for crypto, and even floated the idea of a Bitcoin Strategic Reserve. In addition, the pro-crypto Treasury and Commerce Secretary selections, along with reports that the nominee for SEC Chair is similarly supportive, have given confidence to the market.

 XRP Jumps on Speculation Over SEC Lawsuit

XRP was the market’s best performer on Monday, surging about 33 percent to $2.46. That push ahead helped XRP pass over stablecoin Tether and rank as the third largest cryptocurrency by market capitalization at $140.13 billion, according to CoinMarketCap.

The rally was largely fueled by speculation that the SEC’s ongoing lawsuit against Ripple could soon be dropped. Reports indicate that SEC Chair Gary Gensler is expected to step down as Trump takes office in January, which could open the door for a leadership change.

A probable successor for Gensler is former SEC Commissioner Paul Atkins, who is a known proponent of digital assets. That would see a more lenient regulatory position taken against Ripple and XRP.

 Possibility of a Crypto Regulation Change

Traders have also theorized that the Trump administration will reallocate the oversight of cryptos from the SEC to the Commodity Futures Trading Commission (CFTC).

It will then likely lead to leniency in regulation, an action that will boost the crypto market at large. 

 Altcoins Show Mixed Movements Amid Deeper Volatility

Although XRP had a strong jump, other cryptocurrencies were muted Monday as traders looked for clearer signals from the Trump administration’s regulatory stance.

Other highlights:

Ethereum (ETH): The second-largest cryptocurrency in terms of market capitalization decreased by 0.5% to $3,667.0

Solana (SOL) and Cardano (ADA): Both saw falls in the range of 3% to 5%. This is a general fear in the market

Polygon (MATIC): It bucked the trend, increasing 4.3%.

Dogecoin (DOGE): Among meme tokens, Dogecoin gained 2%, maintaining modest positive momentum. 

 Impact of Geopolitical Developments on Crypto Markets 

Beyond regulatory speculation, geopolitical tensions also weighed on market sentiment. Trump’s threat to impose steep tariffs on BRICS countries created additional uncertainty, impacting risk appetite across financial markets, including cryptocurrencies. 

 Looking Ahead: Key Factors Shaping Crypto Markets

Regulatory Shifts Under Trump’s Administration 

Market participants will continue paying attention to the pro-crypto stance of the incoming administration. There will be a closer watch on policy announcements and appointments that are critical, especially at some of the key regulatory agencies such as the SEC and the CFTC. 

 Profit Taking and Technical Resistance

The price action in the $90,000 to $100,000 range for Bitcoin seems to suggest significant profit-taking at record highs. More convincing breaks above $100,000 may depend on stronger policy signals and renewed market confidence.

XRP rally highlights the influence of regulatory developments on individual cryptocurrencies. If the SEC were to drop its lawsuit against Ripple, XRP could have more upside, potentially attracting greater interest in altcoins with strong use cases.

 Global Macroeconomic Conditions

Geopolitical tensions with the BRICS nations could also be a headwind. Global economic conditions, in general, and interest rates may also be a significant determinant of investor risk appetite on the overall risk assets such as cryptocurrencies.

Cryptocurrency is navigating uncertain times, from the stabilization of Bitcoin below $100,000 to the extraordinary rise in XRP based on expectations of regulatory action.

Given the uncertainty in the United States’ policy under President Trump, significant shifts in the oversight of regulatory matters are likely. Altcoins have been mixed, and investors should show caution.

The coming weeks may turn out to be crucial for the trajectory of the cryptocurrency market, with a mix of regulatory optimism and geopolitical tensions shaping the landscape.