$XRP has been facing significant price pressure recently, with technical indicators suggesting a potential drop to $1.96 by December 24, 2024. After reaching recent highs, the price has encountered resistance and has shown signs of a bearish trend. Key moving averages and market sentiment indicate a weakening bullish momentum, with the price currently struggling to maintain above critical support levels. The broader market conditions, combined with XRP’s recent price action, are pointing toward a possible correction, which could push the price down toward the $1.96 mark.

Traders are closely monitoring XRP’s price behavior around this key level, as a drop to $1.96 would represent a significant decline from its current value. While there may be short-term fluctuations, the prevailing market factors and technical indicators are supporting the bearish outlook. If the price fails to recover or break through resistance points in the coming days, further downside risks remain, and the $1.96 price target could become more likely as we approach December 24, 2024.

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VanEck CEO Says Bitcoin Could Reach $170K in 2025 After 124% Surge in 2024, Outshining Gold and US Stocks
Jan van Eck, CEO of VanEck, has outlined a bold and forward-looking perspective on the Bitcoin and precious metals markets heading into 2025.
In a recent statement, the CEO highlighted that Bitcoin emerged as the undisputed leader in the 2024 financial market by delivering a staggering 124.4% year-to-date (YTD) return.
This figure far outpaces traditional assets like gold and U.S. stocks, which both posted gains of 28.1%.
Meanwhile, Jan van Eck predicts even brighter days ahead for Bitcoin in 2025. He projected the cryptocurrency could climb to $150,000–$170,000.
Bitcoin and Gold Lead the Pack
A performance chart places Bitcoin at the forefront of the market in 2024. Gold followed at a distant 28.1%, buoyed by global central bank purchases and increasing de-dollarization trends.
U.S. stocks kept pace with gold, while gold mining stocks trailed at 21%, and REITs posted 13.2%. Traditional assets like commodities, bonds, and international equities struggled, with most returns below 10%.
Persistent Inflation and Fiscal ReckoningIn his statement, Van Eck stressed that the U.S. economy is at a critical juncture, marked by persistent inflation and unsustainable fiscal spending.
The Federal Reserve’s “higher for longer” interest rate policy reflects the ongoing economic challenges, with inflation, particularly in services and wages, proving more stubborn than initially anticipated.
While van Eck expects some short-term rate cuts, he warns that any sharp easing is unlikely unless the economy faces a severe contraction.
Van Eck’s base case scenario includes a reduction of $500 billion in U.S. government spending by the incoming administration. However, he cautions that these cuts may not be enough to eliminate the deficit.
Inflation risks could increase without further action, leading to higher long-term interest rates and potential market volatility. As a result, Van Eck advises caution in U.S. equities, particularly large-cap stocks, which remain highly valued.
Bitcoin and Gold: Inflation Hedges for the FutureAs inflation continues to impact markets, Van Eck highlighted the growing significance of Bitcoin and gold as robust hedges against fiscal uncertainty.
Gold has benefitted from rising global demand, especially due to foreign central bank purchases.
On the other hand, Bitcoin is benefiting from its halving event and its role as a decentralized store of value, with its appeal growing as investors seek alternatives to traditional financial systems.
For 2025, Van Eck’s investment strategy recommends reducing exposure to U.S. stocks and diversifying into inflation-hedging assets like Bitcoin and gold.
He also advises considering alternatives such as short-duration fixed income and international equities to achieve a more balanced portfolio.
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