Here’s When XRP Price And Other Altcoins Will Pump Again
XRP has experienced interesting price action recently, with an unexpected surge in retail interest. Google Trends data shows an increase in mentions of XRP, a surge that has sparked a lot of hype in the retail industry.
According to Brian from SantimentIt’s fascinating how a strong 30 days can create such excitement. Even with the minor pullback, XRP is still up around 329% over the past month. Although the price of XRP is down approximately 11.5% compared to its recent peak approximately eight days ago, the price of XRP doubled in just one week from November 25 to December 2.
Brian told the Thinking Crypto Podcast that the price surge was accompanied by a surge in trading volume and active addresses, indicating strong retail interest. However, it is important to know that XRP, like other altcoins, remains susceptible to Bitcoin movements. Nonetheless, XRP’s utility has been a key driver behind FOMO, with many traders entering the market based on price momentum rather than the fundamentals of the currency.
When will XRP and other altcoins rise again?
The altcoin market has seen some interesting moves recently. Over the past week, the overall market capitalization of some 3,600 assets has declined by around 1.5%, but trading volume has actually increased.
The analyst said that market sentiment is currently mixed, with neither bulls nor bears clearly in control. This has created some volatility, with panicked sellers meeting buyers looking to take advantage of lower prices. The market is stuck with no clear direction. Many are hoping for a rebound over Christmas or New Year, while others expect a possible dip and recovery in January.
Historically, December has sometimes been a difficult month for the cryptocurrency market, especially after a strong performance in November. Similar slowdowns were seen in 2017 and December 2021, and this year is likely to follow a similar pattern. Tax season often leads to profit-taking, which can further slow economic activity.
In the short term, it may be worth watching how things unfold. The next few weeks are likely to be calmer as whales and large traders take a step back.
