Cryptocurrencies, including XRP, are rising today, July 10, 2025, due to several key factors reflected in market sentiment and current events:
Record High of Bitcoin: Posts on X show that Bitcoin has reached a new record high exceeding 112,500 $ and reaching up to 115,000 $ . This upward trend, driven by a 38% increase in trading volume over 24 hours, pulls other cryptocurrencies like XRP along, which tend to correlate with Bitcoin's movements.
Optimism about pro-Crypto Policy: The market is reacting positively to statements attributed to the President of the United States, Donald Trump, who celebrated the rise of cryptocurrencies and emphasized his pro-Crypto stance. His tariff policy and a more favorable regulatory environment are perceived to boost interest in risk assets like cryptocurrencies.
Institutional and Speculative Interest: The increase in trading volume and the involvement of institutional investors, along with the record market valuation of companies like Nvidia (which surpassed a $4 trillion market capitalization), foster a positive risk sentiment. This benefits both leading cryptocurrencies and smaller market capitalizations, including meme coins.
Technical and Market Factors: The total market capitalization of cryptocurrencies has shown bullish patterns, such as a "bullish flag" in technical charts, indicating potential for higher gains. Additionally, the liquidation of short positions (short squeeze) has amplified upward movements, with over 471 million $ in liquidations of short positions in the last 24 hours.
