XRP Surges to Seven-Year High

CRYPTO
XRP Surges to Seven-Year High

XRP surged over 11% in 24 hours, reaching $3 for the first time since early 2018, fueled by growing anticipation of a spot XRP ETF approval and strong market momentum. This rally coincided with Bitcoin hitting $100,000, boosting confidence across the crypto space. XRP reclaimed its position as the third-largest cryptocurrency by market cap, surpassing Tether and even the market value of BlackRock at $170 billion.

Large investors have accumulated 1.4 billion XRP tokens, worth $3.8 billion, over the past two months, according to Santiment. This accumulation followed a consolidation phase after December’s highs, indicating strong institutional interest. Ripple’s recent launch of its RLUSD stablecoin and partnerships have further bolstered sentiment.

Ripple President Monica Long expressed optimism about imminent regulatory clarity under the new administration, fueling further speculation. With these developments, XRP is poised to test fresh all-time highs, solidifying its status as a top-performing crypto asset.

FINANCE
Goldman Sachs Profits Soar in Q4

Goldman Sachs delivered stellar Q4 2024 earnings, with profits nearly doubling thanks to surging revenues from deal-making, underwriting, and trading. CEO David Solomon expressed optimism about the business environment under President-elect Donald Trump’s administration, citing potential deregulation and an M&A boom. Goldman’s shares, up nearly 60% over the past year, surged 6% after the earnings announcement.

Solomon noted increased CEO confidence and a significant backlog in large-cap M&A activity, reflecting an improving regulatory outlook. However, he cautioned that Trump’s tariff and immigration policies must be carefully managed to avoid economic disruptions.

The CBOE SKEW Index, which measures market crash protection demand, recently hit all-time highs, signaling heightened investor concerns. Goldman’s chief global equity strategist, Peter Oppenheimer, recommended downside protection as market risks grow. Solomon urged caution, stating, “We should all be prepared for the unexpected,” highlighting uncertainties surrounding immigration, trade, tax, and energy policies under the new administration.

TECH
BYD Targets Korea with Affordable EVs

China’s BYD Co. is targeting South Korea’s electric vehicle (EV) market with three new models this year, starting with the Atto 3, priced at 31.5 million won ($21,600) for the base model. This aggressive pricing undercuts local giants Hyundai and Kia, aiming to capture market share. BYD plans to launch the Seal sedan and Sealion 7 later in the year, further expanding its lineup. The Atto 3’s cost, excluding tax credits and subsidies, marks its lowest global price outside China.

To win over South Korean consumers, known for their high automotive standards, BYD is focusing on affordability and accessibility. It will open 15 showrooms and 11 service centers to boost consumer confidence. However, challenges include public concerns about EV safety, tighter battery regulations, and declining EV sales, which fell 10% last year.

Despite hurdles, BYD’s competitive pricing and strategic expansions reflect its determination to gain traction in South Korea’s competitive EV market.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.