The cryptocurrency market is witnessing a significant rally fueled by renewed investor optimism following President Trump’s executive order permitting cryptocurrencies within 401(k) retirement accounts. Ethereum leads the charge, surging above the $4,000 mark.
Ethereum has climbed to over $4,000, reflecting a robust 13% increase over the past week. Bitcoin, while exhibiting more stability, also strengthened, gaining 1% this week to trade comfortably above $116,000. XRP demonstrated notable resilience and growth, holding firm above $3.23 and registering a near 10% weekly increase.
The market surge is largely attributed to the Trump administration’s move, interpreted as a major endorsement of digital assets within traditional retirement savings plans. This development is anticipated to significantly bolster investor confidence and drive further market expansion.
Major cryptocurrencies, particularly Ethereum and XRP, are seeing strong positive momentum as traders and investors react favorably to the increased potential for institutional inflows stemming from the executive order.