Bitcoin’s price rally at the beginning of the new year peaked at just under $95,000 before facing a reversal, currently trading around $93,500. Meanwhile, various altcoins, notably Ripple’s XRP, have seen substantial gains, exceeding 10% in value recently.

Bitcoin’s Resistance at $95K

Starting the year near $88,000, Bitcoin quickly rose above $90,000 on January 1. It faced resistance at this level initially but managed to climb past it, even in the wake of political events in Venezuela. By January 2, Bitcoin reached nearly $95,000 but was subsequently pushed back down to below 93,000.

BTCUSD Jan 6. Source: TradingView

XRP’s Surge

Conversely, XRP outperformed in the altcoin marketplace, achieving a daily increase of close to 10% and peaking at $2.40 earlier today before settling at $2.35. Other coins such as Ethereum and BNB also showed gains, although less dramatic compared to XRP.

Rising coins like RENDER (18%), SUI (16%), and HASH (13.5%) contributed to an overall crypto market capitalization nearing $3.3 trillion, having added approximately $50 billion recently.