Ripple’s XRP The coin currently appears to be in a major bull-bear dilemma as it tries to end the year on a positive note. At the time of writing, XRP is trading at $0.6324, down 1.95% in the last 24 hours. Despite this massive decline, XRP bulls seem to be holding out for a chance to make history by posting the first December growth in six years.
Koinfinans.com As we reported, historically, December altcoin It’s not a good month for you. Because it has recorded only three upward trends in the last 10 years. Starting in 2013, XRP closed December with a 30.2% decline, while the next year it recorded a huge jump of 118.1%.
A positive December close of 43.8% was also recorded the following year, with a correction coming in December 2016 with a decline of 4.07%. December 2017 marked the largest XRP monthly growth ever, with a massive 818.9% jump. Large sales were seen in the following years of 2018, 2019, 2020, 2021 and 2022.
Based on its history, XRP bulls are likely to hold tight to the 4.05% gained so far this month to break the coin’s historical downward trend. With high volatility still ongoing, a positive close to the year would be considered a record-breaking milestone that could push XRP’s 2024 off to a great start.
XRP Price Outlook
XRP’s price outlook may change next year as new catalysts emerge that are capable of fueling price growth. SEC and Ripple Labs Inc. While it still has points to settle based on the institutional portion of Judge Analisa Torres’ ruling, it has other important fundamentals that could ultimately drive the altcoin’s long-term growth.
With current advancements in the XRP Ledger and the increasing utility of the digital currency in payments, the final $1 price target could be reached in 2024.