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As 2024 draws to a close, all eyes are on the new year and what it can potentially bring to the cryptocurrency market. While the crypto space is filled with all sorts of predictions and wild guesses, some of the most popular digital assets are already offering a glimpse of how the coming year may unfold.
One such perspective is offered by XRP, currently the fourth largest cryptocurrency. After soaring a staggering 500% in the past two months, the price of XRP has stumbled a bit but is still trading above $2.
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If you look at the price chart of the popular digital asset, you can see that after peaking at $2.90 in early December, XRP went into a month-long downtrend, periodically testing the key support level around $2. These retests were caused by quick dumps and not quickly bought back.
However, by the end of the year, XRP still managed to easily reach this key price and psychological zone. What’s great about this is that the price action of the cryptocurrency suggests that no more impulsive sell-offs are expected, but volatility will be a casualty for some time.
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If we see the accumulation for XRP around this price point, without breaking below $1.95, then the bullish bias will remain for the popular asset. This may open up the possibility for XRP to test the local high again, and even to challenge the all-time high that was set almost seven years ago at the $3.30 level.
So, XRP seems to be ready for a fresh start in 2025, with a solid foundation at $2. Comparing this to $0.60 per XRP, things have definitely changed for the better this year.