Native token of the Ripple network XRP It is trading around $0.58 today and is down about 4% on a daily basis. The leading altcoin had a head start in November but is now retreating in price as markets calm down. The resignation of Binance CEO ‘CZ’ turned the cryptocurrency markets upside down and a $750 million collapse occurred in one day. While Bitcoin and Ethereum fell over 3%, BNB Coin fell 12% to double digits.
XRP and Cardano Markets were generally lower on Wednesday, with major altcoins such as losing more than 4% in value. However, investors expect Ripple’s native token to make a breakthrough and find a better price trajectory in December. Here are the remarkable details of the price prediction created using available technical data.
Ripple: December 2023 Price Prediction for XRP
On-chain measurement and price prediction firm Changelly painted an optimistic picture for XRP in December 2023. According to the price estimate, altcoin Its price may reach a high of $0.76 next month and may pull back in price after reaching the target. This represents a return on investment (ROI) of approximately 26% at its current price of $0.58. Therefore, a $1,000 investment has the potential to rise to $1,260 if the price prediction is correct.
Additionally, according to predictions, Ripple’s native token may decline after reaching the $0.76 level. The altcoin could drop as low as $0.64 in the same month and erase all of its gains a week later. Therefore, short-term investors need to time the market carefully and plan their exits accordingly to make profits.
With this, cryptocurrency It is important to underline that there is no guarantee that the unit will reach $0.76 next month. The cryptocurrency market is highly volatile and cuts both ways causing serious losses to investors. Thorough research is recommended before taking an entry position in XRP at this time.