XRP price prediction for Christmas Day 2022

Despite the news of virtual currency exchange coin base will terminate the wallet support service of XRP On November 29, the price of the 7th largest digital asset based on market capitalization was did not move.

As a legal battle between its issuers, rippleand the U.S. Securities and Exchange Commission (SEC) raged, and much of the community blockchain Keep an eye on XRP during the holiday season.

In this line, according to historical data obtained by fin boltOver the past two Christmases, XRP has posted steady year-on-year (YoY) growth.By factoring some technical analysis XRP’s 2022 Christmas forecast is bearish, with the asset expected to trade at $0.308 on December 25, according to (TA) indicators. CoinCodex.com predict. As it stands, XRP is trading at $0.391, down -21%.

XRP Price Prediction. Source: CoinCodex

XRP’s Bearish Christmas 2022

Notably, on December 25, 2021, XRP traded at $0.91, up nearly 193.5% from its 2020 value of $0.31.

XRP 1-year chart.Source: Finbold

With the holidays approaching this year, it’s important to note that market conditions remain unfavorable compared to 2021. While XRP has been adversely affected by an ongoing lawsuit with the SEC, the cryptocurrency market as a whole made a bullish move into 2021.

Additionally, the token is being used in contexts characterized by rapidly escalating inflation and a series of high-profile events. For example, the Terra (LUNA) ecosystem crisis and the collapse of the FTX crypto exchange negatively impacted asset values.

Contrary to predictions, the XRP community coin market capitalization Remains bullish on the outlook for the asset by the end of 2022. The community is leveraging a price quote feature project that sees XRP trading at an average of $0.4287 by December 31, 2022, which resulted in 970 votes. is.

Observing XRP technical analysis (TA), reveals a swing to the ‘sell’ side, with week-long gauge summary suggesting ‘sell’ at 13, versus 4 for ‘buy’ and 9 for ‘neutral’ is staying.

XRP technical analysis chart.Source: Trading View

A closer look at these indicators reveals that moving average (MA) is in the “strong sell” zone with only 11 “sell”, 1 “neutral” and 3 “buy”. in the meantime, oscillator 1 leans towards BUY, 8 towards NEUTRAL, 2 towards SELL.

As it stands, according to data obtained by Finbold, XRP is down 2.07% over the past 24 hours and 4.02% over the past week, trading at $0.391 for a total market capitalization of $19.6 billion.

Disclaimer: The content of this site should not be considered investment advice. Investing is speculation. Your capital is at risk when you invest.

Leave a Reply

Your email address will not be published. Required fields are marked *