Ripple’s cryptocurrency XRP has been on an uptrend over the past couple of days. The asset surged by a staggering 30% throughout the week, making XRP a top performer. During the month. the altcoin was seen trading at a high of $1.62 all the way from a low of $0.49. While several believe that the cryptocurrency could rise to $2 this month, most of them were hoping to see XRP spike to $3 in December.
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XRP’s Hurdles
At press time, the asset was trading at $1.46 after rising by nearly 4% over the past 24 hours. The altcoin sprung up by 178% during the last 30 days. If the asset could maintain this streak then it could move beyond its all-time high of $3.84. XRP sits 61% below its current price level.
Amidst this, prominent buyers were on a purchasing spree despite the rising price of the asset. According to Santiment, the majority of this buying activity came from whales. These large investors grew their holdings by more than 700 million XRP within the same time period. The rising purchasing activity among whales indicates a growing belief in XRP’s ability to extend its surge.
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December Price Prediction
Data from CoinCodex reveals that XRP is expected to conclude the year trading between $ 0.808818 and $ 0.935403. The price of XRP declined by -41.66% compared to today’s pricing. December’s average price is set at $0.8544 for XRP. It should be noted that, if XRP performs as predicted, investors might profit by 36.13%.
It looks like the asset’s momentum will be interrupted during the coming month. The asset is expected to record a major drop. This would mean that investors will have to wait longer before the asset reaches $2 or its all-time high of $3.84. Currently, Ripple’s cryptocurrency is trading 61% below its peak.
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