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Mustafa Mulla
Mustafa Mulla
Author
Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.
- Dec 13, 2024 10:26 UTC
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XRP News: Will XRP Drop to $1.50? Analyst Predicts Further Crash
Analyst warns XRP could decline sharply, possibly reaching $1.50 or even $0.50.
Bitcoin's struggle above $100K has created instability, limiting XRP’s upward movement.
Supporters look to Ripple's RLUSD launch and improved U.S. regulations for future recovery.
XRP, which reached a high of $2.90 this December, is now facing the possibility of a significant price decline. The well-known market analyst, The Block Bull, has warned that XRP could see a major drop in the next few weeks. After losing its upward momentum, the coin appears to be in a correction phase, with predictions suggesting it could fall to $1.50—or even lower.
XRP Price Takes a Hit
According to The Block Bull, XRP’s downward trend might have already begun. On December 12, the coin fell by 2.34%, ending a small winning streak. While XRP has shown some signs of recovery since then, the analyst believes it could drop to $1.50 by next week.
Even if XRP reaches $1.50, it may not hold. If the coin drops below this level, the price could plummet to $0.50, possibly during the holiday season. XRP struggled to stay above $0.50 for a long time before finally breaking past it in late 2024. This makes $1.50 a critical level to watch.
Whale Activity Raises Concerns
In addition to the price decline, Coinpedia reported that 39.43 million XRP tokens, worth about $95.5 million, were recently moved to Coinbase. This follows worries about crypto whales potentially dumping nearly $100 million worth of XRP, which could further impact the price.
Mid-Term Outlook for XRP
Despite a big 105% rally over the past eight days, the coin dropped sharply due to the overall weak XRP had a 105% rally over the past eight days, but it quickly dropped due to the overall weak state of the crypto market. Bitcoin’s struggle to stay above $100,000 has created uncertainty, causing XRP to become stuck in a price range rather than pushing higher.
The analyst believes that if XRP doesn’t break out of this range soon, things could get worse. The mid-term outlook remains bearish, with the possibility of the coin dropping back to its November lows.
Recent sell-offs have led to over $1 billion in liquidations, which signals that much of the speculative excess is being cleared. While this has pushed the price down, it could also indicate that the market is correcting itself.
Curious about XRP’s next move? Read XRP price prediction and discover where the market might be headed in the coming weeks!
Hope for XRP in the Long Run?
Despite the negative outlook, some XRP supporters are hopeful. They are looking to Ripple’s upcoming RLUSD stablecoin launch and the potential for better regulatory conditions under the new U.S. administration as possible factors that could help XRP recover.
Currently, XRP is trading at $2.34, reflecting a 4% drop in the last 24 hours. Its market cap stands at $132.93 billion, showing the ongoing volatility in the market.
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XRP’s path forward will be shaped by the forces at play—whether for better or for worse, the coming weeks will be important.
FAQs
XRP might reach a high of $3.99 or an average of $3.07.
At the time of writing, the price of 1 Ripple token was $2.31
Yes 
No 
