- XRP’s price stability in December defies crypto market volatility despite SEC uncertainties.
- Legal battles aside, analysts like Egrag Crypto predict a potential 40 – 50 times surge in the value of XRP.
- XRP’s market defense and solid support near $0.55 hint at a promising upward trajectory.
Throughout December, XRP’s price has exhibited remarkable steadiness, fluctuating between $0.5762 and $0.6565. This range-bound movement has been notable, especially considering the volatility often seen in the cryptocurrency market.
Recently, the broader market faced turbulence following speculation about the United States Securities and Exchange Commission’s (SEC) stance on Bitcoin ETF applications, leading to a decline in XRP’s value.
This downward pressure nudged its price closer to the $0.500 mark, a critical level for the currency. However, support at the intra-day low of $0.558 has helped to prevent a further decline. At press time, XRP exchanged hands at $0.5768, a 4.90% decline from the 24-hour high.
XRP/USD 24-hour price chart (source: CoinStats)
While the market capitalization of XRP fell by 2.61% to $31,253,113,940, the 24-hour trading volume increas…
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