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XRP Price Prediction for December 31
As we approach the end of the year 2024, it’s crucial to analyze the current market sentiment and technical indicators to predict the future price movement of XRP. Based on our analysis, we are predicting that XRP could drop another 10% to 12%, reaching the support level at $1.83.
The latest data suggests that exchanges have witnessed an outflow of hundreds of millions of dollars worth of XRP tokens over the past few days. This bearish outlook is further reinforced by our technical analysis, which indicates a strong possibility of the price decline continuing until support is found.
In contrast to this negative sentiment, it’s interesting to note that traders and investors continue to accumulate, viewing the current price decline as an opportunity to buy the dip. As a result, we expect XRP’s price momentum to remain bearish in the short term.
At press time, XRP is trading near $2.03, having experienced a price decline of over 4.5% in the last 24 hours. This decline has been accompanied by a surge in trading volume of approximately 90%, indicating heightened participation from traders and investors amid the price decline.
In conclusion, we expect XRP’s price to continue its bearish trend until it reaches the support level at $1.83, with the possibility of another 10% to 12% drop.
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Source: coinpedia.org
