Ripple’s cryptocurrency XRP recorded a major drop in its price today. The asset’s price momentarily dipped to less than $2.20. Even after this, the cryptocurrency is still among the top-performing ones this year. The altcoin recorded a staggering 300% rise from January 1. While the asset is still at a distance from its all-time high, XRP seems to be making strides. The community has increased hopes for the asset during the second half of the last month of the year.
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Ripple’s XRP Shines Through the Day
At press time, XRP was trading at $2.41 after a nearly 6% drop over the past 24 hours. The asset is currently 37% below its all-time high of $3.84. Along with its price, the volume of the asset witnessed a major rise. Ripple’s cryptocurrency saw a 36% uptick and currently stands at $22.83 billion.
It should be noted that Ripple introduced RLUSD, its stablecoin, on December 17. This debut will have a beneficial impact on XRP’s price. In the cryptocurrency community, the debut has already generated a lot of enthusiasm, especially among fans of XRP. The community believes that the asset might create a buzz sooner rather than later.
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December Prediction
According to data from CoinCodex, XRP will spend the rest of the month with the bears. The altcoin is expected to witness major drops over the next couple of weeks. The firm revealed that the asset will trade at a low of $ 1.777218 towards the end of December 2024. Over the coming days, the highest price level that XRP will trade at is $2.37. It seems like the community will have a challenging time with the third-largest cryptocurrency.
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