Ripple’s XRP cryptocurrency has been on an uptrend over the past few days. The asset has surged 30% over the course of the week, making XRP one of the top performing coins. For the month, the altcoin has traded as high as $1.62 from a low of $0.49. While some believe the cryptocurrency could rise to $2 this month, most expect XRP to surge to $3 by December.
XRP's hurdles
At press time, the asset was trading at $1.46 after gaining nearly 4% in the past 24 hours. The altcoin has gained 178% in the past 30 days. If the asset can maintain this momentum, it could surpass its all-time high of $3.84. XRP is currently down 61% from its current price.
Against this backdrop, large buyers have been rushing to buy despite the asset’s rising price. According to Santiment, the bulk of this buying activity has come from whales. These large investors have increased their holdings by more than 700 million XRP over the same period. The increased buying activity among whales suggests growing confidence in XRP’s ability to continue its rally.
December Price Prediction
Data from CoinCodex shows that XRP is expected to end the year trading between $0.808818 and $0.935403. XRP is down -41.66% from its current price. The average price for December is set at $0.8544 for XRP. It should be noted that if XRP performs as predicted, investors could make a profit of 36.13%.
It looks like the asset’s rally will be interrupted in the coming month. The asset is expected to record a large drop. This means investors will have to wait longer before the asset reaches $2 or its all-time high of $3.84. Currently, the Ripple cryptocurrency is trading 61% below its peak.