Here’s When XRP Price And Other Altcoins Will Pump Again
Anjali Belgaumkar11 Dec 20242 min read
XRP has been experiencing interesting price movements lately, with an unexpected surge in retail interest. Google Trends data shows a rise in mentions of XRP and this surge has sparked a lot of retail hype.
According to Brian from Santiment, it’s fascinating how a strong 30-day performance can drive this kind of excitement. Even with a slight pullback, XRP is still up around 329% in the past month. Though it’s down about 11.5% from its recent peak about eight days ago, XRP’s price doubled in just one week, from November 25 to December 2.
On the Thinking Crypto podcast, Brian said that the price surge was accompanied by a spike in transaction volume and active addresses, signaling strong retail interest. However, it’s important to know that XRP, like other altcoins, remains vulnerable to Bitcoin’s movements. Despite this, XRP’s utility has been a key driver behind the FOMO, with many traders jumping in based on price momentum rather than the coin’s fundamentals.
When Will XRP and Other Altcoins Rise Again?
The altcoin market has been seeing some interesting movements lately. Over the past week, the overall market cap of about 3,600 assets has dropped by around 1.5%, but trading volume has actually increased.
The analyst said that right now, sentiment is mixed, with neither bulls nor bears clearly in control. This has created some volatility, where panic sellers are being met by buyers looking to take advantage of lower prices. The market is stuck with no clear direction. Many are hoping for a rally into Christmas or the new year, while others are anticipating a dip followed by a potential recovery in January.
Historically, December has sometimes been a rough month for crypto markets, especially after strong performance in November. In 2017 and 2021, there were similar slowdowns in December, and this year could follow a similar pattern. Tax season often leads to profit-taking, which can further slow down activity.
In the short term, it might be worth keeping an eye on how things develop. The next few weeks could be quieter as whales and large traders take a step back.
