XRP’s unstable price actions have become a topic of serious debate among crypto enthusiasts and analysts.
While most altcoins appear to be consolidating for a potential bull run, the same cannot be said of XRP, as the token seemed to be registering market declines.
Ripple’s series of court case victories against the United States Securities and Exchange Commission (SEC), reignited the community’s hope of a positive turnaround in XRP’s fortune, but it never turned out as anticipated.
Read Also: Here’s When XRP Price Is Projected To Surpass $19
Notably, XRP showed some glimpses of exponential price increments. However, the period was only transient, as the bear seemed to have caught up with the token.
At press time, the XRP price is trading at $0.59, implying a drop in momentum for a token that spent recent weeks above the $0.6 resistance level.
The past two weeks and last month saw XRP registered declines of about 7.8% and 2.6%, respectively. Should the trend continue, XRP might be on the verge of replicating historical trends of always ending the year poorly.
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— TimesTabloid (@TimesTabloid1) July 15, 2023
What Would Propel a 1,500% XRP Price Surge?
Amid the mounting pressure and uncertainties hovering around XRP’s future price actions, some market analysts seemed optimistic about the coin’s future, with bullish price predictions and analyses.
CryptoInsightUK, a renowned crypto educator, recently revealed a new price projection for XRP. His price prediction attracted crypto enthusiasts’ attention.
CryptoInsightUK’s Latest Price Prediction
CryptoInsightUK based its newest projection on an XRP vs Bitcoin (BTC) price movement chart. According to the crypto expert, XRP is currently at the bottom of the XRP/BTC range, paving the way for a potential 88% movement or more against BTC.
The crypto expert added that the real deal would most likely play out once XRP succeeds in breaking and maintaining levels above 0.000028 on the XRP/BTC chart. This would undoubtedly propel XRP above the $1 price level.
The implications of the above happening are crucial, considering that the crypto analyst hinted at the potential for an impressive 1,500% surge in price compared to Bitcoin, achieving 0.00023 on the XRP/BTC chart.
We are sitting at the bottom of the $XRP / $BTC range.
— Cryptoinsightuk (@Cryptoinsightuk) December 17, 2023
It looks as if an it is only a matter of time for $XRP to make a 88%+ move vs $BTC.
The real fun begins if we can break and hold above the top Grey box though.
If we can break this box we could see a move up to 1,500% VS… pic.twitter.com/wPT3Jm2Oxv
Read Also: Analyst Spots XRP Historical Bull Flag, Explains Its Significance On XRP Price Bull Run
XRP Recent Declines Raise Concerns
XRP’s recent plunge in price has initiated worries among XRP holders and enthusiasts.
The big question remains if hope still abounds for XRP to turn situations around before the end of the year. The only way things could change depends on how soon a broader crypto market rally will play out.
XRP is currently the fifth-largest cryptocurrency, with a market capitalization of $32,411,757,498. Should XRP continue recording current price actions, it will not be long before it is displaced by Solana (SOL) on market ranking.
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