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Crypto News > Blog > News > What will happen to the price of XRP in the short term? – Crypto
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What will happen to the price of XRP in the short term? – Crypto

Crypto
Last updated: 2024/12/23 at 5:45 PM
Crypto Published December 23, 2024
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What will happen to the price of XRP in the short term?
 – Crypto
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Contents
Elements that could influence the price of XRPRelatedCrypto Keynote USA

Amid strong volatility in the broader Cryptocurrency market, Ripple’s XRP price remains in an undetermined state. The analysts’ arguments are totally antagonistic in some cases. In this work, we analyze some of the possible scenarios for the currency in the short term.

Defenders of the bullish thesis make some strong arguments that seem really convincing. Meanwhile, those betting on the token’s decline are mainly based on chart analysis. Although the balance of possibilities leans towards the former, technical analyzes should not be underestimated.

It is important to keep in mind that short-term uncertainty is closely linked to Bitcoin volatility. Fed Chairman Jerome Powell’s remarks and PCE inflation data in the US, which fell short of Wall Street’s expectations, keep investors on the ropes.

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In simple words, what happens to the price of Bitcoin in the short term will be directly proportional to the performance of XRP. In any case, on a longer term of several months, the bullish trend seems unquestionable, due to the political events that 2025 holds. At the time of writing, the price of the token is $2.18 per coin, with a yield of -3.84% in 24 hours and -8.23% in a week, according to CoinMarketCap.

XRP price remains in decline. Just like the rest of the altcoins, investors are looking for clues to guess XRP’s next moves. Source: CoinMarketCap

Elements that could influence the price of XRP

From the point of view of those who expect an upward trend in XRP, some elements come to light. Among them, a strong accumulation of whales stands out, especially during the last few days. The price drop suggests that large investors are hoping to capitalize on the 2025-related rally.

On January 20, Gary Gensler will resign as chairman of the SEC, opening the possibility of a new administration dropping the agency’s lawsuit against the company. This scenario seems likely, considering that the new regulation would discard the argument that tokens are equivalent to unregistered securities.

From this it follows that Ripple would have the doors open to establish itself as one of the greatest forces in the world of cryptocurrencies. Things like the new RLUSD stablecoin and agreements with major financial institutions would be a big boost. As expected, these scenarios become strong purchasing pressure.

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Basically, this argument assumes that the current low price is a once-in-a-lifetime opportunity in the price of XRP. This makes it an investment with a lot of return potential for capital with less urgency to collect. On the other hand, as already mentioned, the elements of technical analysis assume that there may be a setback.

According to specialized media analysts, Bollinger band signals suggest that the price could plummet to $1, the same as in 2018.

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