Title: Bitcoin, Ethereum, and Dogecoin Show Gains Ahead of Weekend, While XRP Falls Behind
By Khyathi Dalal
May 17, 2025 | 9:30 PM EDT
As the cryptocurrency market heads into the weekend, major coins such as Bitcoin, Ethereum, and Dogecoin have recorded positive gains, suggesting increased investor confidence. In contrast, XRP has struggled to maintain momentum, registering a decline.
Market Overview
According to the latest reports, Bitcoin (BTC) is trading at $103,680.88, reflecting a 1.3% increase. Ethereum (ETH) has also experienced an upswing, now priced at $2,627.97 after a 2.7% rise. Dogecoin (DOGE) has shown modest growth as well, rising by 0.5% to $0.2278. Other notable cryptocurrencies, including Solana (SOL) and Shiba Inu (SHIB), have also made minor gains, with prices holding at $173.2 (up 1.2%) and $0.00001507 (up 0.3%), respectively.
In contrast, XRP’s price has dropped to $2.43, marking a decline of 1.8%. This downturn contrasts sharply with the upward trends observed in its larger counterparts.
Key Statistics
Noteworthy statistics highlight the activities in the cryptocurrency space. Data from IntoTheBlock indicates that large transaction volumes for Bitcoin and Ethereum increased by 5.4% and 1.3%, respectively, suggesting a heightened interest among investors. While Ethereum’s daily active addresses rose by 1.6%, Bitcoin’s count saw a reduction of 6.3%.
Recent liquidation data from Coinglass revealed that 123,626 traders experienced liquidations over the past 24 hours, collectively amounting to approximately $340.61 million. This could indicate a level of market volatility as traders adjust their positions ahead of the weekend.
Insights from Traders
Crypto market analysts have expressed optimistic sentiments about Bitcoin’s performance. Trader Ted Pillows believes Bitcoin is on the verge of a significant breakout, asserting it is "only one bullish candle away" from achieving a new all-time high. Such sentiment points to a potentially exciting couple of days for Bitcoin investors.
Additionally, crypto analyst Ali Martinez noted that Bitcoin whales have capitalized on recent market conditions by selling over 30,000 BTC in a span of 72 hours, suggesting profit-taking among significant players in the market.
Regarding technological indicators, trader Honey has pointed to a golden cross forming on Bitcoin’s daily charts, which has historically preceded substantial price rallies.
Altcoin Developments
As for Ethereum, trader Michael van de Poppe commented on its recent upward movement, suggesting that while a consolidation phase may be on the horizon, dips below $2,400 could present viable buying opportunities.
In the altcoin space, Ali Martinez identified Solana as a coin to watch, potentially breaking out of a long-anticipated cup-and-handle pattern if it surpasses the $200 mark. Meanwhile, Ethereum has reportedly broken out of a descending broadening wedge, which could signal further bullish action.
Despite showing some early signs of recovery, XRP’s prospects remain cautious. Trader cryptoinsightuk believes if XRP can maintain its current momentum, a bullish continuation may be possible.
For Dogecoin enthusiasts, trader Tardigrade suggests the coin is consolidating just under resistance, expecting a potential breakout toward $0.40 in the coming days.
Conclusion
As the cryptocurrency market gears up for the weekend, the performance of Bitcoin, Ethereum, and Dogecoin shows encouraging trends for investors, while XRP continues to lag behind. With volatility still prevalent in the market, traders and investors remain watchful for developments that could shape market dynamics in the near future. As always, participants are encouraged to approach investments cautiously and stay informed about market fluctuations.
For those new to cryptocurrency, platforms offer educational resources and incentives for making initial trades—ensuring that both seasoned traders and newcomers have opportunities to engage with this evolving market.
This article originally appeared on Benzinga.com.
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