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Ripple: Will XRP Reach $2 in December?
Ripple's XRP has experienced a strong price increase at the beginning of this month. This asset has risen by 26.5% on the weekly chart, 106.5% on the 14-day chart, 166.7% compared to last month, and 123.9% since the end of November 2024. This asset has surpassed the $1 mark for the first time since November 2021 at the beginning of this month. Despite the increase, XRP has faced a significant correction of 5.1% in the past 24 hours.
Why is the price of XRP decreasing? The latest XRP discount occurred after Bitcoin (BTC) fell below $93,000. The cryptocurrency market has experienced increased volatility over the past weekend. The BTC correction has led to a price decline across the market for most major cryptocurrencies. This decline may be due to market participants taking profits after BTC reached an all-time high of $99,645.39 on November 22, 2024. Ripple's XRP also followed the overall market downtrend. Will this asset reach $2 in December 2024? According to CoinCodex, XRP will trade at a maximum price of $1.58 in December. The platform predicts that the asset will reach $1.58 on December 2, 2024. CoinCodex analysts predict that the price of XRP will undergo a long adjustment period in the coming month. The platform predicts that XRP will reach a low of $0.80 on December 31, 2024.
Changelly analysts have also painted a similar picture for Ripple's XRP token. The platform predicts the asset will trade at a maximum price of $1.49 in December 2024. Changelly predicts that the asset will face a correction over the next month, trading at a maximum price of $0.92 in January 2025.
There is a possibility that XRP will accelerate in December if Bitcoin (BTC) switches to an uptrend. If BTC reaches $100,000, we may see another market-wide uptrend. In such a scenario, the price of XRP could exceed $2.