Trend Analysis and Prediction for XRP (December 2024)

Current trend:

The price of XRP is around $2.32, marking a significant increase in recent months due to favorable legal advancements, greater adoption, and strategic partnerships, such as the potential use of XRP in Japanese banks for 2025. These factors have driven interest and trading volume on its network, along with an increase in new activated accounts.

However, despite its recent rally, there are signs of distribution in market volumes, indicating that investors may be selling after the recent surge. Additionally, there are bearish divergences in medium and long-term charts, suggesting a possible correction in the short term.

Risk of falling below $2:

Although XRP has surpassed the key resistance of $2, technical indicators show overbought conditions, increasing the risk of a short-term correction. If trading volume continues to decrease and the overall market becomes more volatile, XRP could face a pullback below $2, especially if it loses support at levels close to $1.95.

Forecast for the near future:

By the end of 2024, XRP is expected to maintain a range between $2.29 and $2.45 if there are no drastic changes in the overall market or unexpected negative developments. Its long-term strength will depend on greater institutional adoption and the consolidation of its use cases in the financial industry.

Conclusion:

Although XRP has strong long-term potential due to its technological adoption, it faces short-term risks that could pressure its price below $2. Investors should consider market trends and monitor trading volumes before making decisions.