We are now in the final week of December, and not just days but only hours are left until 2024. What are the expectations for XRP Coin? After the summary judgment victory in July, XRP Coin has experienced a lot. The altcoin, still unable to recover after the BlackRock application turned out to be fake, cannot perform as expected.
Current Predictions for XRP Coin
Ripple (XRP) has not yet been able to start the desired rally as it cannot surpass the supply zone at $0.65. After the fake BlackRock application news, the popular altcoin, which had difficulty surpassing the critical area, is now at $0.63.
Since the week of November 13, XRP Coin has been moving almost horizontally and has regained the $0.63 level after a 1-week break. Fluctuating within the parallel channel, XRP Coin is maintaining the support level at $0.57.
For the expected rise to begin, it is essential to surpass the middle area of $0.75. During the weeks of November 6 and 13, the price could not hold this area. Most recently, in the week of December 4, an attempt to reclaim it was made, but the long upper wick indicates that bearish sales are pressuring the bulls.
Investors are currently turning to alternatives for quicker gains. While altcoins like SOL, MINA, AVAX are achieving double-digit gains with strong capital inflows, it is not surprising that leading cryptocurrencies like XRP, BNB, and ETH remain calm. Indeed, we have experienced similar processes in the past.
Now, if the XRP Coin price can surpass $0.75, it will target the ceiling line of $0.9348. If it can also pass this, the movement could continue up to $1.35. On the downside, we talked about critical supports. Following that, the well-known levels of $0.46 and $0.42, and then $0.38 could be targeted.
The Future of XRP Coin
US crypto regulations will be decisive for XRP Coin. Coinbase and Ripple, along with other crypto companies in the region, are working together to ensure this is in favor of crypto. There are many potential developments that could positively affect the future of XRP Coin. For example, the lawsuit expected to end by the middle of next year or R&D agreements with several financial institutions in the RWA area.
However, in the short-term future, investors considering the possibility of the SEC overturning the goal in their fortress may not expect a parabolic rally until the collective appeals process is over (perhaps until the end of 2024?).
