XRP In December 2023: Decoding An 800% Nostalgia And The Hope For $1
December 25 2023 - 7:00AM
NEWSBTC
XRP has been under a cold spell in December for years, with red
charts and cold winds every year. Some buyers are still scared
about the market because they remember the 66% drop in 2021. The
sounds of 2018, a year with an amazing 800% rise, sound like a
faraway Christmas carol. They remind the XRP community of a time
when XRP believed in the magic of year-end wonders. Even though
December charts used to be full of holiday cheer, XRP was stuck by
the shadow of past trends, hoping that its luck would improve by
the end of the year. Related Reading: ALGO Blows Up To 42-Week
High, Delighting Algorand Fans Will This Month Be Different For
XRP? While it’s cold outside in December 2023, there are hints of
hope for change in the air. The big question is whether this month
will be different, and whether XRP can finally break free from the
Scrooge-like grip that has been limiting its year-end results.
CryptoRank’s data, which is often like a Grinch to XRP’s holiday
mood, still shows a sad picture of past December coming back. There
is a cemetery of red bars across the chart (below). Source:
CryptoRank Each one shows a year of loses at the end of the year.
In the middle of this cold landscape, though, sits a defiant
evergreen: 2017. Its shimmering 818% gains serve as a reminder of
XRP’s hidden potential. The averages for XRP in December on the
crypto market show two parts of the story. A 75% average return
shines like a holiday ornament, a memory of times when the market
was rising around this time of the year. A (minus) 4% median, on
the other hand, forms a shadow, a lump of coal that shows how
volatile XRP’s December performances have often been. Still, this
December feels different. There’s a soft hint of change in the air,
like a mistletoe of promise. XRP market cap currently at $34
billion. Chart: TradingView.com When you look at XRP’s past of
chilly Decembers, even a small 2% rise that might not seem
important in other situations feels like a big deal. Even though
the wins in December might not last, the bigger picture shines with
newfound warmth. With a respectable 20.4% quarterly gain, the
fourth quarter of 2023 has been very good. It was the second-best
quarter of the year and the first positive Q4 since 2017. But the
rumors about December are more than just changes in prices.
Technical indicators are pointing to a possible bull run, which
would be very different from the normal drop at the end of the
year. There will be some hard times ahead for XRP. XRP price action
in the last year. Source: CoinMarketCap Related Reading: Polkadot
Pops: Price Hits Fresh 2023 Peak, Breaking Through Doubts Hope
Lingers For XRP Three important barrier levels—$0.63, $0.66, and
$0.70—will stand in the way of its possible upward trend. For XRP
to break free from its past limits, it needs to take over these
points that were once battlegrounds between bulls and bears. Even
though the road is steep, it’s not impossible. It’s still not clear
what will cause such a change, but the technical signs and
resistance seen this month are a sign of hope. If XRP can break
through these levels of resistance, it could be on track for a big
rise, possibly hitting the all-time high of $1 before the current
year ends. This is more than just a story of numbers and charts;
it’s a story of strength, going against the grain, and a glimmer of
hope in the cold grip of December. In this story, XRP, which was
dormant at one point, wakes up full of promise. The rumors from
December make one thing clear: the winter blues might be melting
away and a better future could be on the horizon. Only time will
tell if 2024 is the spring of a new XRP. Featured image from
Freepik
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