The crypto market is deep in the red ahead of Donald Trump’s inauguration, weighed down by an unexpected jobs report and anticipation of higher-than-expected inflation data. These developments underscore how integrated the crypto market has become with broader macroeconomic trends.

Here’s a look at the cryptocurrencies worth keeping an eye on.

The cryptocurrency market is bracing for increased volatility as Donald Trump, the crypto-friendly leader, prepares for his inauguration. During his 2024 election campaign, Trump made several promises to the crypto industry, fueling investors’ speculation about his initial move – whether he would announce a Bitcoin reserve or unveil favorable policies for crypto miners.

Currently, Bitcoin (BTC) has dropped over 9% in the past week and is trading at $90,303.

Ether, the second-largest cryptocurrency by market capitalization, has underperformed Bitcoin, posting a steep 17% loss over the past week. The native token of the Ethereum blockchain is under pressure due to a sustained outflow from Ether exchange-traded funds (ETFs).

Currently, Ether (ETH) is trading at $3,037, marking a weekly decline of over 17%.

XRP is the native token of the XRP Ledger, an open-source blockchain. It is used by the Ripple payment network to facilitate cross-border transactions and is designed to act as a bridge currency. It’s important to note that Ripple, the company, operates the network but does not own XRP.

The cryptocurrency market is anticipating movement this week as Ripple faces a pivotal hearing on January 15 in its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). The SEC has accused Ripple of selling XRP as an unregistered security, a claim at the center of the dispute.

In August 2024, a court ordered Ripple to pay a $125 million fine for violating investor-protection laws, significantly less than the $2 billion sought by the SEC. The regulator will present its arguments on January 15 to support its appeal.

XRP is trading at $2.45, representing a jump of 0.74% in a week.

The highly volatile memecoin Dogecoin is garnering attention ahead of Donald Trump’s inauguration. Tesla (TSLA) CEO Elon Musk’s favorite cryptocurrency is expected to experience significant price swings in the coming days as his close ties to Trump fueling speculation about a potential surge.

Currently, Dogecoin (DOGE) is trading at $0.32, marking a weekly decline of over 17%.

Despite the downward trend in the rest of the crypto market, crypto exchange Bitget’s native cryptocurrency, Bitget Token (BGB), continues moving upward.