Ripple’s native token XRP is currently trading around the $0.58 mark on Wednesday and is down nearly 4% in the day’s trade. The leading altcoin started November on the front foot but is now retracing in price as the markets settle down. The resignation of Binance CEO ‘CZ’ sent the cryptocurrency markets tumbling and experienced a $750 million rout in a day. Bitcoin and Ethereum saw a downturn of more than 3% while BNB coin plummeted double digits falling 12%.
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Leading altcoins like XRP and Cardano’s ADA slipped more than 4% and the markets remained in the red on Wednesday. However, will Ripple’s native token XRP find a breakthrough and turn the tides next month in December 2023? In this article, we will highlight how high or low XRP’s price is predicted to move in the charts during the year-end.
Ripple: December 2023 Price Prediction For XRP
Leading on-chain metrics and price prediction firm Changelly has painted a rosy picture for Ripple’s XRP in December 2023. According to the price prediction, XRP could reach a high of $0.76 next month and retrace in price after hitting the mark. That’s a return on investment (ROI) of about 26% from its current price of $0.58. Therefore, an investment of $1,000 could turn into $1,260 if the price prediction is accurate.
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Also, Ripple’s native token could begin to dip after hitting the $0.76 mark, according to estimated the forecast. The altcoin could fall to $0.64 the same month and might shed its gains a week later. Therefore, short-term traders need to time the market carefully and plan their exit accordingly to book profits.
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Nonetheless, there is no guarantee that the cryptocurrency will reach the $0.76 mark next month. The cryptocurrency market is highly volatile and cuts both ways delivering severe losses to investors. It is advised to do thorough research before taking an entry position into XRP at the moment.
At press time, Ripple’s native token was trading at $0.58 and is down close to 4% in the 24-hours day trade. The altcoin is also down nearly 83% from its all-time high of $3.40, which it reached in January 2018.