XRP In December 2023: Decoding An 800% Nostalgia And The Hope For $1

Christian Encila

1 year ago

3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

XRP has been under a cold spell in December for years, with red charts and cold winds every year. Some buyers are still scared about the market because they remember the 66% drop in 2021. The sounds of 2018, a year with an amazing 800% rise, sound like a faraway Christmas carol.

They remind the XRP community of a time when XRP believed in the magic of year-end wonders. Even though December charts used to be full of holiday cheer, XRP was stuck by the shadow of past trends, hoping that its luck would improve by the end of the year.

Will This Month Be Different For XRP?

While it’s cold outside in December 2023, there are hints of hope for change in the air. The big question is whether this month will be different, and whether XRP can finally break free from the Scrooge-like grip that has been limiting its year-end results.

CryptoRank’s data, which is often like a Grinch to XRP’s holiday mood, still shows a sad picture of past December coming back. There is a cemetery of red bars across the chart (below).

Source: CryptoRank

Each one shows a year of loses at the end of the year. In the middle of this cold landscape, though, sits a defiant evergreen: 2017. Its shimmering 818% gains serve as a reminder of XRP’s hidden potential.

The averages for XRP in December on the crypto market show two parts of the story. A 75% average return shines like a holiday ornament, a memory of times when the market was rising around this time of the year.

A (minus) 4% median, on the other hand, forms a shadow, a lump of coal that shows how volatile XRP’s December performances have often been. Still, this December feels different. There’s a soft hint of change in the air, like a mistletoe of promise.

XRP market cap currently at $34 billion. Chart: TradingView.com

When you look at XRP’s past of chilly Decembers, even a small 2% rise that might not seem important in other situations feels like a big deal. Even though the wins in December might not last, the bigger picture shines with newfound warmth.

With a respectable 20.4% quarterly gain, the fourth quarter of 2023 has been very good. It was the second-best quarter of the year and the first positive Q4 since 2017.

But the rumors about December are more than just changes in prices. Technical indicators are pointing to a possible bull run, which would be very different from the normal drop at the end of the year. There will be some hard times ahead for XRP.

XRP price action in the last year. Source: CoinMarketCap

Hope Lingers For XRP

Three important barrier levels—$0.63, $0.66, and $0.70—will stand in the way of its possible upward trend. For XRP to break free from its past limits, it needs to take over these points that were once battlegrounds between bulls and bears.

Even though the road is steep, it’s not impossible. It’s still not clear what will cause such a change, but the technical signs and resistance seen this month are a sign of hope. If XRP can break through these levels of resistance, it could be on track for a big rise, possibly hitting the all-time high of $1 before the current year ends.

This is more than just a story of numbers and charts; it’s a story of strength, going against the grain, and a glimmer of hope in the cold grip of December. In this story, XRP, which was dormant at one point, wakes up full of promise.

The rumors from December make one thing clear: the winter blues might be melting away and a better future could be on the horizon. Only time will tell if 2024 is the spring of a new XRP.

Featured image from Freepik

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.