Bitcoin, Solana, XRP With Strong Month But Challenges Await: Report
On-chain analytics provider Santiment data published its January report, looking back at the performance of major cryptocurrencies like Bitcoin (CRYPTO: BTC), Solana (CRYPTO: SOL) and XRP (CRYPTO: XRP).
What Happened: January brought extreme volatility to crypto, largely fueled by the inauguration of Donald Trump as the 47th U.S. president.
His pro-crypto stance, including proposals for a national Bitcoin reserve, initially boosted market confidence.
Bitcoin And Altcoins
Bitcoin hit a new all-time high of $109,300 just before his inauguration but has since retraced to $102,600.
Despite this modest decline, panic has emerged among traders, as the excitement over Trump's new tenure waned and the true commitment to pro-crypto policy will still be tested.
Bitcoin's lowest sentiment of 2025 came after it dropped below $100,000, sparking fear on social media.
XRP: Notable Strong Performer
XRP is trading 51% higher over the past 30 days, notably stronger than other altcoins.
Bullish factors include Ripple Labs' regulatory approval for its RLUSD stablecoin and Ripple’s partnership with Ondo Finance.
Also Read: ‘Asia’s MicroStrategy’ Metaplanet Targets 21,000 Bitcoin Holdings By End Of 2026
Ethereum and Solana
While Ethereum (CRYPTO: ETH) is struggling with declining sentiment, trading around $3,100.
Solana saw its lowest sentiment in a year after dropping 18% on Jan.19 before rebounding.
A rebound to $250 would trigger positive sentiment again.
Other Developments
The Bitcoin ETF Anniversary on Jan. 23 saw $7.9 billion in trading volume, the highest level in 10 months.
MicroStrategy continues to accumulate Bitcoin but prices may drop if sentiment does not improve in the near future.
What's Next: Looking ahead to February, Santiment believes the sector is ahead of a bright future.
If BTC moves sideways or trends lower, traders may look to accumulate altcoins at discounted prices.
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