The Ripple market has seen a major shift. Ripple USD (RLUSD) has made its way into the stablecoin market. Backed by Ripple Labs, the company behind Ripple and its payment systems, Ripple USD aims to offer a regulated and stable digital currency. The network’s cryptocurrency, XRP, could benefit from the latest developments. Some believe that the asset could surge to $3. Meanwhile, others were hopeful that Ripple could maintain its current price level.
Current price level of XRP
Source:CoinMarketCap
The XRP market has seen a significant surge over the past day. The altcoin was trading at $2.54, during the price action after surging 5.43% over the past 24 hours. The asset moved from a low of $2.34 to a high of $2.56. The monthly and weekly increases for the asset were also significant. XRP gained 138% and 16%, respectively. Despite its recent surge, Ripple’s cryptocurrency is still trading 34% below its all-time high of $3.84.
This was followed by the daily trading volume of XRP. The market has seen a 92% increase and currently stands at $12.71 billion. It is common practice to count the trading volume of the coin across all active cryptocurrency exchanges. This is a bullish indicator for the market in question.
Weekly Price Forecast
Source:Coincodex
The Ripple cryptocurrency is expected to head lower in the coming days. While the community is expecting a rally in the Ripple market, the asset seems to be taking a completely new path. Data from CoinCodex reveals that Ripple will drop to a low of $2.47 on December 20, 2024. While this is not a huge drop, it does affect its holders.
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