XRP, Bitcoin Price Rise. Crypto Is Staging a Comeback. — Barrons.com

By Elsa OhlenBitcoin, XRP and the price of other cryptocurrencies are rising early Tuesday.The world's largest digital coin, Bitcoin, is up 2.8% over the last 24 hours to last trade at $95,693, according to CoinDesk data. The rise comes after cryptos across the board sold off Monday amid fears of a delayed monetary loosening cycle.Bitcoin briefly hit its lowest price since mid-November as it slipped below $90,000 Monday afternoon, before gradually paring those losses by Tuesday morning.XRP, the popular cryptocurrency used to facilitate and settle transactions on Ripple's payment platform, rose 4.5% to $2.56, following a similar pattern to Bitcoin price over the last 24 hours. It also followed the broader market, with the S&P 500 trading almost 1% down early in the day, to close 0.2% higher Monday.Among other cryptocurrencies, Ether is up 0.6% over the past 24 hours, while Solana is up 3.6% and Dogecoin is trading 6.1% higher.It isn't immediately clear what's driving cryptos higher Tuesday. For the past few months, crypto investors' optimism around the future for digital assets have soared as Donald Trump won a second term in the White House and promised to make the U.S. the crypto capital of the world.Yet, since mid-December, that optimism has been tested as the Federal Reserve hinted at fewer rate cuts in 2025, and a Friday jobs report showed the labor market looking strong and inflation still running above the central bank's 2% target.Write to Elsa Ohlen at [email protected] content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.