The crypto community shared forecasts for XRP

We tell you why XRP is growing and what investors expect from the coin in December.

What’s happening with XRP

The XRP cryptocurrency of the Ripple crypto project has risen in price by almost 400% since the beginning of November 2024. As of the time of writing this review, the coin is trading at $2.4.

The growth allowed XRP to break into the top 3 most capitalized cryptocurrencies. Only Bitcoin and Ethereum are ahead of the coin. For comparison, back on November 29, XRP was only on the 6th line of the capitalization rating.

At the same time, the cryptocurrency still failed to update its absolute maximum, which was recorded on January 4, 2018 at $3.84. At the time of writing, the coin is trading 36.37% cheaper than its peak.

Let us remind you that XRP turned out to be one of the few coins, leaders in capitalization, that failed to update their absolute maximum during the 2021 bullrun. The fact is that in December 2020, Ripple came under the radar of the US Securities and Exchange Commission (SEC). The regulator saw in XRP signs of an illegally issued security. Amid regulatory pressure, Ripple lost the support of some investors. As a result, the coin failed to update its absolute maximum against the backdrop of the overall growth of the crypto market.

Why is XRP growing?

In short, XRP is rising on news of Trump’s victory, expectations of easing regulatory pressure and news of the likely launch of the Ripple stablecoin. Now let’s look at everything in order.

One of the main reasons for the positive dynamics of the coin was the upcoming resignation of SEC head Gary Gensler. Ripple faced regulatory pressure during the period when the Commission was governed by another commissioner, Jay Clayton. Many participants in the crypto community hoped that with Gensler taking office, the SEC would drop the charges against Ripple, but this did not happen. Under the new commissioner, the Commission has launched its biggest crackdown on the crypto market since 2008. Therefore, Gensler’s impending dismissal, which could ease regulatory pressure, was positive news for XRP investors.

Let us remember that the resignation of the head of the SEC was one of the promises of US President Donald Trump, who won the election. As part of his election campaign, the politician shared a plan to support the crypto community. It includes many initiatives, including the formation of a Bitcoin reserve in the United States. Therefore, the crypto market, including XRP, began to grow on news of the politician’s victory.

At the same time, news appeared online that the SEC may lose some of its powers related to regulating the crypto industry. Control over the market may shift to the Commodity Futures Trading Commission (CFTC), which is more crypto-friendly. The regulatory team, unlike the SEC, does not see signs of illegally issued securities in almost all coins.

There is another factor in the growth of the Ripple cryptocurrency. FOX Business writes that the New York regulator is preparing to approve the crypto project’s stablecoin, RLUSD. According to media reports, the launch of the token may take place on December 4. As part of the project, Ripple will compete with such giants as Tether and USDC for a place in the stablecoin market. Partners such as Bitstamp, Moonpay and Uphold will help the company bring the token to the market.

XRP Forecast

Many members of the crypto community are sure of thatthat XRP will continue to rise. The fact that the cryptocurrency managed to break out of the “chains” that limited the prospects for positive movement, including noted popular analyst Peter Brant.

The growth of the coin has become a reason for members of the crypto community to share their forecasts. Many people thinkthat XRP will reach $5 this month. There are also bolder forecasts, the authors of which see prospects for cryptocurrency growth above $6 by the end of the year.

Analyst Michael van de Poppe, in turn, paid attention on the rate of positive movement of XRP. He believes that if such an “old man” as the Ripple cryptocurrency is capable of parabolic growth, then new coins may surprise investors even more. According to Popp, the bull run is just beginning, which means there is a long road ahead for positive market movement, of which XRP is a part.

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