XRP, a prominent cryptocurrency, is currently facing uncertain times in the market. Market analysts, including the renowned The Block Bull, have expressed concerns about XRP’s potential decline in the coming weeks. Despite reaching a peak of $2.90 this December, XRP has struggled to maintain its upward momentum and appears to be entering a correction phase, with predictions suggesting a further drop to $1.50 or lower.
XRP Price To Hit Hard
The Block Bull has indicated that XRP’s downward trajectory might have already begun. On December 12, XRP experienced a 2.34% decline, marking the end of a minor winning streak. Although XRP has shown some resilience since this drop, the analyst predicts a fall to $1.50 by next week. The Block Bull stated, “My theory is XRP is done with its consolidation from tomorrow and will begin its descent. Bitcoin will correct 30-35% from 19th December. I wouldn’t be surprised if $XRP is $1.50 next week and then eventually 50 cents between Xmas and New Year.”
Even at $1.50, XRP’s stability is uncertain. Should it fail to hold this level, a further decline to $0.50 could occur, potentially around the holiday season. XRP had previously struggled to break past $0.50 before its surge in late 2024.
Coinpedia has also reported the movement of 39.43 million XRP tokens, valued at $95.5 million, to Coinbase. This follows concerns about crypto whales potentially dumping nearly $100 million worth of XRP, which could adversely impact its price.
Why Is XRP Struggling?
Despite a substantial 105% rally over the past eight days, XRP has faced sharp declines due to the overarching weak condition of the crypto market. Bitcoin’s struggle to maintain a position above $100,000 has significantly contributed to this uncertainty, affecting the entire market. As a result, XRP has been unable to break out of its current range.
The analyst suggests that if XRP cannot overcome this stagnation, its situation could worsen. The mid-term outlook remains bearish, with the potential for XRP to revisit its November lows.
Curious about XRP’s next move? Read XRP price prediction and discover where the market might be headed in the coming weeks!
A Ray Of Hope!
Amid the recent sell-off, which has resulted in over $1 billion in liquidations and the erasure of many highly leveraged positions, there is a potential silver lining. This clearing of speculative excess may pave the way for a more stable market environment.
Despite the negative outlook, some XRP enthusiasts remain optimistic. They cite Ripple’s upcoming RLUSD stablecoin launch and the improved regulatory landscape expected under the new U.S. administration as potential catalysts for positive change.
Currently, XRP is trading around $2.34, reflecting a 4% drop in the past 24 hours, with its market cap reaching $132.93 billion.
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FAQs
How much will XRP be worth by the end of 2025?
XRP might reach a high of $3.99 or an average of $3.07.
How much is XRP worth?
At the time of writing, the price of 1 Ripple token was $2.31.
