Top Ripple (XRP) price predictions in the afternoon

TL;DR

Analysts predict a potential rally for XRP, with price targets ranging from $2.72 to $8.76. Conversely, key metrics including active accounts and transactions have declined, indicating reduced network activity and potential demand, which could hamper XRP’s upward momentum. Where is XRP headed?

The cryptocurrency market has been booming over the past month, with Ripple’s XRP among the top performers. Its price exploded roughly 120% during that period, briefly becoming the third largest digital asset.

XRP Price, Source: CoinGecko

In recent weeks, however, XRP has seen a lot of volatility, with its valuation dropping below $2 and then rising above $2.50. It is currently trading at around $2.36, which represents a decline of 2.5% on a 24-hour scale.

Many market watchers think XRP could be poised for another major rally soon. User X, JAVON MARKS, predicted a potential price breakout based on the asset’s performance on a 4-hour scale.

Dark Defender chimed in on December 15, analyzing the same time period. The strategist highlighted price momentum above $2.50, maintaining that the asset could reach $2.72. Additionally, Dark Defender set $5.85 and $8.76 as short-term targets, pointing to $2.29, $2.24, $2.10 and $2.02 as key support areas.

X user Bark also made a bullish forecast, seeing XRP jump to a new all-time high of $5. This increase would require the token’s market capitalization to exceed $265 billion. A few months ago, such a rise seemed unlikely given that XRP was worth less than $0.60 while its market cap was around $30 billion. Now things look very different and we have yet to see if the streak will continue in the near future.

XRP Metrics Falling

Despite the optimistic predictions, some important indicators suggest that the bulls may suffer a blow soon. The latest data shows that the number of XRP payments from one account to another, active accounts, executed XRP transactions and newly activated accounts have decreased significantly in the last 24 hours.

Fewer users joining the ecosystem can lead to reduced buying pressure, which can reduce demand for the asset and negatively affect its price. Also, a decrease in executed transactions indicates less utility for XRP. This reduction in activity could discourage speculative investors, further weakening demand.

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