The price of the seventh-ranked digital asset by market cap has remained largely unchanged, despite the news that cryptocurrency exchange Coinbase will end its wallet support services for XRP on November 29.
XRP price prediction for December 25 (Christmas Day 2022)!
As the legal battle between Ripple and the United States Securities and Exchange Commission (SEC) continues, many in the community will support the blockchain company and follow XRP closely during the festive period.
Accordingly, according to historical data obtained by Finbold, over the past two Christmases, XRP has recorded steady year-over-year (YoY) growth. Taking into account several technical analysis (TA) indicators, XRP’s Christmas 2022 forecast is bearish and the asset is expected to trade at $0.308 on Dec. 25, according to the CoinCodex.com forecast. Currently, XRP is trading at $0.391, which marks a -21% drop.
XRP price prediction. Source: CoinCodex
XRP’s Christmas 2022
Specifically, on December 25, 2021, XRP traded at $0.91, up about 193.5 percent year-over-year from $0.31 in 2020.
XRP 1-year price chart. Source: Finbold
As we approach the holiday season this year, it is worth noting that the market environment is still negative compared to 2021. While XRP has been negatively impacted by the ongoing litigation with the SEC, the cryptocurrency market as a whole saw a bull run in 2021.
In addition, the token is used in a context characterized by rapidly increasing inflation and a series of high-profile events. For example, the Terra (LUNA) ecosystem crisis and the collapse of the FTX crypto exchange negatively affected the value of the asset.
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