XRP kicked off 2025 with a bang, recording an impressive 11% gain in the first 24 hours. While this is a strong start, another cryptocurrency closely associated with Ripple is leaving XRP in the dust – Stellar (XLM).
XRP’s Positive Start
XRP’s price surged over 11% in the past day, making it one of the best-performing cryptocurrencies among major altcoins like Ethereum (ETH). This positive momentum follows a dominant performance in the fourth quarter of 2024, with XRP successfully securing its yearly close in December.
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Furthermore, over $7 million worth of XRP shorts were liquidated within 24 hours. This liquidation, primarily concentrated on exchanges like OKX, Binance, and CoinEx, suggests a potential squeeze on short sellers who were betting against XRP’s price rise.
Stellar (XLM) Takes the Spotlight
Despite XRP’s impressive gains, Stellar (XLM) has completely stolen the show. XLM emerged as the absolute top performer within the top 100 cryptocurrencies over the past 24 hours, experiencing a staggering surge of over 100%.
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This significant difference in performance highlights the complexities of the cryptocurrency market. While XRP and XLM are often viewed similarly by investors due to their association with Ripple co-founder Jed McCaleb, McCaleb himself recently emphasized the distinct features and functionalities of each token, including their differing consensus mechanisms.
Other Notable Gainers
Beyond XRP and XLM, several other altcoins witnessed significant gains on the first day of 2025. Algorand (ALGO) and Hedera (HBAR) both climbed over 13% and 9%, respectively. Cardano (ADA) also joined the ranks of top performers with a notable increase in the past 24 hours.
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Conclusion
While XRP kicked off 2025 with a positive double-digit gain, Stellar’s phenomenal 100% surge has undoubtedly captured the market’s attention. This event underscores the dynamic nature of the cryptocurrency market, where even closely related projects can experience vastly different trajectories. It will be interesting to see if it can maintain its momentum or if XLM’s impressive rally is just the beginning of a breakout year.