XRP Price Prediction – Where Will the Digital Asset Go Next as Volume Continues to Surge?
XRP price prediction is slightly bullish above an upward trendline-driven support level of $0.3850. Ripple (XRP), the world's seventh largest and most popular digital token, maintained its early bullish rally and remained well-bid above $0.3926 as the positive cryptocurrency market boosted many cryptocurrencies, including XRP coin.
The total market capitalization of all cryptocurrencies increased by nearly 1% on the day to $859.91 billion, with major cryptocurrencies trading primarily in the green.
Apart from this, the reason for its bullish rally could also be attributed to Fed Chair Jerome Powell's dovish comments, which pushed the US dollar to a three-month low and contributed to Ripple's XRP coin gains. It is due to the fact that cryptocurrency prices have a strong negative correlation with the US Dollar Index (DXY).
On the negative side, the jump in Ripple's large transactions is not a good sign for XRP, which has been furiously battling with the existing selling pressure. According to a Whale Alert, a significant movement of 280,684,171 XRP worth $110,017,409 took place on November 29 between two anonymous wallets.
Moreover, the Coinbase cryptocurrency company declared that it would begin removing XRP from its wallet on December 5, which was seen as another key factor that kept the lid on any additional gains in the Ripple XRP coin.
As everyone is aware, the failures of the FTX corporation have recently caused the entire cryptocurrency market to suffer. Since FTX, one of the world's largest cryptocurrency exchanges, declared bankruptcy, the cryptocurrency market has been in free fall.
Furthermore, several significant cryptocurrency companies, including BlockFi, recently declared bankruptcy, further harming the
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