The News Crypto -
- XRP is currently navigating a tug-of-war between optimistic and pessimistic sentiments.
- Some enthusiasts hope for a historic first December price increase in six years.
- XRP’s December history includes significant drops in 2013 but it witnessed notable upswings in 2014 (118.1%) and 2017 (818.9% spike).
XRP is presently navigating a major tussle between optimistic and pessimistic sentiments as it attempts to finish the year on a positive note. It is currently exchanging hands at $0.6309, reflecting a 1.08% decline over the last 24 hours.
In spite of this temporary setback, some XRP enthusiasts are clinging to the hope of making history by recording the first December price increase in six years.
December has traditionally not been a supportive month for XRP, with only three instances of upward moves in the past decade. The journey began in 2013, ending the year with a substantial 30.2% drop.
However, the next year witnessed a remarkable upswing of 118.1%, and the positive energy continued in 2015 with a 43.8% gain. December 2016 saw a modification, witnessing a 4.07% slump.
The peak was reached in December 2017, marking the biggest monthly surge with an astounding 818.9% spike. The years that followed—2018, 2019, 2020, 2021, and 2022—were controlled by huge sell-offs.
XRP bulls are navigating the test
In this historical context, XRP bulls are presently navigating the test, holding fast to the 4.05% profit attained this month. Breaking the bearish pattern in the coin’s December history becomes a vital goal, particularly in a market defined by amplified unpredictability.
Achieving a positive conclusion to the year would not only be a momentous feat but could also set a record-breaking milestone, laying a constructive foundation for XRP’s prospects in 2024.
Looking past the short-term market dynamics, the price outlook for XRP holds the potential for change in the upcoming year. Despite the continuing legal tangle between the SEC and Ripple Labs Inc., XRP has key basics that could fuel its long-term growth.
This article was originally published on thenewscrypto.com
