XRP drops 20% to $2.20 as Fed's hawkish stance and strong dollar pressure crypto markets.
However, analysts predict XRP to reach $2.56 by end-2024, with potential growth to $4-5 by 2029.
We examine why is the XRP price down and how the current predictions look like.
The cryptocurrency market's hopes for a traditional year-end
surge are fading as Bitcoin (BTC) tumbled to its lowest level since late
November, marking a significant retreat from its recent record highs.
This also negatively affects the altcoin market, including
Ripple's XRP. The fourth-largest cryptocurrency by market capitalization, has
experienced a significant downturn, dropping nearly 20% from its December 17
high of $2.72 to $2.20 as of December 24, 2024.
Let's check why is the XRP price down today and what are the
XRP price predictions for 2024 and 2025.
XRP Goes Down: Market Performance
The flagship Bitcoin dropped to $92,442 on December 24,
representing a 14.5% decline from its all-time peak of $108,000 reached just a
week ago. The leading token briefly attempted to recover above $95,000 before
settling around $94,000 in early trading, maintaining an 11% loss over the past
week.
At the same time, XRP is currently trading at $2.23, down
nearly 14% over the past seven days. The 24-hour low stands at $2.1298, testing
the current local support level.
The current price of XRP token. Source: Tradingview.com
XRP's 24-hour trading volume stands at $11.09 billion,
indicating significant market participation despite persistent selling
pressure. The token faces critical support at $2.17, with technical indicators
showing mixed signals for potential recovery.
Market cap and prices of the top cryptocurrencies. Source: CoinMarketCap.com
Broader Crypto Market Impact:
Bitcoin trades at $93,834, down 12.6% weekly
Ethereum has fallen 15.5% to $3,337
Solana shows a 15.9% weekly decline
This declines comes at a time when crypto markets
traditionally experience what traders call a "Santa Claus rally" – a
period of price appreciation during the final days of December and early
January.
Historical Context for Santa Rally and Market Outlook
Historical data shows that crypto markets have demonstrated
positive performance during the holiday season in previous bull markets.
Analysis reveals that between 2014 and 2023, the crypto market experienced
holiday rallies in eight out of ten instances, with gains ranging from 0.7% to
11.8%.
A significant market event looms on December 27, with
approximately $18 billion worth of Bitcoin and Ethereum options contracts set
to expire, potentially introducing additional market volatility. Despite the
current downturn, market sentiment indicators suggest a possible recovery, as
Bitcoin's social sentiment reached its yearly low on December 22.
Why Is XRP Price Down?
The cryptocurrency's sharp descent began following the
Federal Reserve's December 18 policy meeting. While the Fed reduced its
benchmark rate to 4.25%–4.5%, Chair Jerome Powell's hawkish tone caught
investors off guard. The Fed's projection of only two quarter-point rate cuts
in 2025, down from the previously expected four, has tightened global liquidity
conditions.
The U.S. Dollar Index's surge to 108.15, its highest level
in months, has further pressured cryptocurrency valuations. This strengthening
dollar has made speculative assets less attractive to investors, contributing
to XRP's downward trajectory.
XRP Technical Analysis
The current market structure shows XRP trading below key
support levels, with immediate resistance at $2.49. The daily chart maintains a
bullish long-term outlook, with technical patterns suggesting potential for
higher prices if market conditions improve.
Looking at the XRP chart below, we observe a flag pattern
within which the current price correction is moving. The chart has paused
around the $2.20 support level. Even if this level is breached, the next
support levels are the psychological $2.00, followed by $1.89, and then the 50
EMA at $1.82. A drop below this zone would indicate to me that the flag pattern
has been invalidated, and bears might start to dominate the XRP chart.
Above these levels, however, downward corrections should be
seen as opportunities to accumulate XRP at more attractive prices.
Resistance levels, on the other hand, are currently at
$2.49, $2.71 (the highs from December 17), and $2.91 (this year’s peaks).
Support and Resistance Levels for XRP
Support
Levels
Resistance
Levels
$2.20
$2.49
$2.00
(psychological)
$2.71 (Dec.
17 highs)
$1.89
$2.91 (2023
highs)
$1.82 (50
EMA)
-
XRP Price Predictions
XRP Short-Term Outlook (2024)
The minimum expected price for XRP in December 2024 is
projected at $1.91, with a maximum potential of $2.56. Market analysts
anticipate an average trading price of $2.24 during this period.
February 2025: Expected to fluctuate between $1.3 and $2.5
End of 2025: If institutional adoption continues, XRP could
climb to $5 or higher.
This complex interplay of macroeconomic factors, market
sentiment, and technical indicators will likely continue to influence XRP's
price trajectory through 2024 and beyond. While short-term pressures persist,
long-term projections remain cautiously optimistic, though investors should
maintain awareness of the market's inherent volatility and risk factors.
XRP Price Prediction, FAQ
Why is XRP dropping now?
XRP's recent decline stems from multiple factors, with the
token falling nearly 20% from its December 17 high of $2.72 to $2.20. The
primary drivers include the Federal Reserve's hawkish stance on interest rates,
broader cryptocurrency market weakness, and significant liquidations exceeding
$7 million in the past 24 hours. The strengthening U.S. Dollar Index, which
reached 108.15, has also pressured cryptocurrency valuations.
Does XRP have a future?
XRP demonstrates strong future potential, evidenced by a 28%
increase in active wallets over the past two years, adding 5.75 million
accounts. The platform's focus on cross-border payments and expanding
partnerships across Asia, Africa, and Latin America suggests sustained growth
potential in the global financial infrastructure.
Why has XRP crashed?
The current market correction reflects broader
cryptocurrency market trends, with Bitcoin and Ethereum also experiencing
significant declines. The Fed's recent decision to reduce rates by 0.25% was
overshadowed by Chair Powell's cautious stance on future rate cuts, triggering
a market-wide selloff.
Will XRP ever recover?
Technical analysis suggests a positive long-term outlook
despite current bearish pressure. The token maintains support levels above key
moving averages, and market analysts anticipate recovery potential,
particularly given the increasing institutional adoption and technological
advancement.
What is the expected price of XRP in 2025?
Price predictions for 2025 vary among analysts, with
projections ranging from $1.44 to $4.44. The average trading price is expected
to stabilize around $2.24, with potential peaks reaching $5.25 under optimal
market conditions and regulatory clarity.
Will XRP reach $500 dollars?
While some extremely optimistic projections suggest XRP
could reach $500, this target appears unrealistic for the near term. More
conservative estimates indicate such valuations might only be possible by 2050,
if at all, considering market dynamics and adoption rates.
Can Ripple XRP reach $50 and by when?
Analysts project XRP could potentially reach $50 within the
next decade, approximately by 2035, with predictions showing a minimum price of
$27.68 and a maximum of $57.69 during this period. This projection assumes
continued market growth and widespread adoption of Ripple's payment solutions.
Is XRP worth buying now?
The current price correction presents a potential entry
point for long-term investors, with XRP trading at key support levels around
$2.17. However, investors should consider the market's inherent volatility,
regulatory environment, and broader economic factors before making investment
decisions. The token's strong fundamentals, growing adoption, and technological
developments suggest potential for future growth, though careful risk
assessment is essential.
The cryptocurrency market's hopes for a traditional year-end
surge are fading as Bitcoin (BTC) tumbled to its lowest level since late
November, marking a significant retreat from its recent record highs.
This also negatively affects the altcoin market, including
Ripple's XRP. The fourth-largest cryptocurrency by market capitalization, has
experienced a significant downturn, dropping nearly 20% from its December 17
high of $2.72 to $2.20 as of December 24, 2024.
Let's check why is the XRP price down today and what are the
XRP price predictions for 2024 and 2025.
XRP Goes Down: Market Performance
The flagship Bitcoin dropped to $92,442 on December 24,
representing a 14.5% decline from its all-time peak of $108,000 reached just a
week ago. The leading token briefly attempted to recover above $95,000 before
settling around $94,000 in early trading, maintaining an 11% loss over the past
week.
At the same time, XRP is currently trading at $2.23, down
nearly 14% over the past seven days. The 24-hour low stands at $2.1298, testing
the current local support level.
The current price of XRP token. Source: Tradingview.com
XRP's 24-hour trading volume stands at $11.09 billion,
indicating significant market participation despite persistent selling
pressure. The token faces critical support at $2.17, with technical indicators
showing mixed signals for potential recovery.
Market cap and prices of the top cryptocurrencies. Source: CoinMarketCap.com
Broader Crypto Market Impact:
Bitcoin trades at $93,834, down 12.6% weekly
Ethereum has fallen 15.5% to $3,337
Solana shows a 15.9% weekly decline
This declines comes at a time when crypto markets
traditionally experience what traders call a "Santa Claus rally" – a
period of price appreciation during the final days of December and early
January.
Historical Context for Santa Rally and Market Outlook
Historical data shows that crypto markets have demonstrated
positive performance during the holiday season in previous bull markets.
Analysis reveals that between 2014 and 2023, the crypto market experienced
holiday rallies in eight out of ten instances, with gains ranging from 0.7% to
11.8%.
A significant market event looms on December 27, with
approximately $18 billion worth of Bitcoin and Ethereum options contracts set
to expire, potentially introducing additional market volatility. Despite the
current downturn, market sentiment indicators suggest a possible recovery, as
Bitcoin's social sentiment reached its yearly low on December 22.
Why Is XRP Price Down?
The cryptocurrency's sharp descent began following the
Federal Reserve's December 18 policy meeting. While the Fed reduced its
benchmark rate to 4.25%–4.5%, Chair Jerome Powell's hawkish tone caught
investors off guard. The Fed's projection of only two quarter-point rate cuts
in 2025, down from the previously expected four, has tightened global liquidity
conditions.
The U.S. Dollar Index's surge to 108.15, its highest level
in months, has further pressured cryptocurrency valuations. This strengthening
dollar has made speculative assets less attractive to investors, contributing
to XRP's downward trajectory.
XRP Technical Analysis
The current market structure shows XRP trading below key
support levels, with immediate resistance at $2.49. The daily chart maintains a
bullish long-term outlook, with technical patterns suggesting potential for
higher prices if market conditions improve.
Looking at the XRP chart below, we observe a flag pattern
within which the current price correction is moving. The chart has paused
around the $2.20 support level. Even if this level is breached, the next
support levels are the psychological $2.00, followed by $1.89, and then the 50
EMA at $1.82. A drop below this zone would indicate to me that the flag pattern
has been invalidated, and bears might start to dominate the XRP chart.
Above these levels, however, downward corrections should be
seen as opportunities to accumulate XRP at more attractive prices.
Resistance levels, on the other hand, are currently at
$2.49, $2.71 (the highs from December 17), and $2.91 (this year’s peaks).
Support and Resistance Levels for XRP
Support
Levels
Resistance
Levels
$2.20
$2.49
$2.00
(psychological)
$2.71 (Dec.
17 highs)
$1.89
$2.91 (2023
highs)
$1.82 (50
EMA)
-
XRP Price Predictions
XRP Short-Term Outlook (2024)
The minimum expected price for XRP in December 2024 is
projected at $1.91, with a maximum potential of $2.56. Market analysts
anticipate an average trading price of $2.24 during this period.
February 2025: Expected to fluctuate between $1.3 and $2.5
End of 2025: If institutional adoption continues, XRP could
climb to $5 or higher.
This complex interplay of macroeconomic factors, market
sentiment, and technical indicators will likely continue to influence XRP's
price trajectory through 2024 and beyond. While short-term pressures persist,
long-term projections remain cautiously optimistic, though investors should
maintain awareness of the market's inherent volatility and risk factors.
XRP Price Prediction, FAQ
Why is XRP dropping now?
XRP's recent decline stems from multiple factors, with the
token falling nearly 20% from its December 17 high of $2.72 to $2.20. The
primary drivers include the Federal Reserve's hawkish stance on interest rates,
broader cryptocurrency market weakness, and significant liquidations exceeding
$7 million in the past 24 hours. The strengthening U.S. Dollar Index, which
reached 108.15, has also pressured cryptocurrency valuations.
Does XRP have a future?
XRP demonstrates strong future potential, evidenced by a 28%
increase in active wallets over the past two years, adding 5.75 million
accounts. The platform's focus on cross-border payments and expanding
partnerships across Asia, Africa, and Latin America suggests sustained growth
potential in the global financial infrastructure.
Why has XRP crashed?
The current market correction reflects broader
cryptocurrency market trends, with Bitcoin and Ethereum also experiencing
significant declines. The Fed's recent decision to reduce rates by 0.25% was
overshadowed by Chair Powell's cautious stance on future rate cuts, triggering
a market-wide selloff.
Will XRP ever recover?
Technical analysis suggests a positive long-term outlook
despite current bearish pressure. The token maintains support levels above key
moving averages, and market analysts anticipate recovery potential,
particularly given the increasing institutional adoption and technological
advancement.
What is the expected price of XRP in 2025?
Price predictions for 2025 vary among analysts, with
projections ranging from $1.44 to $4.44. The average trading price is expected
to stabilize around $2.24, with potential peaks reaching $5.25 under optimal
market conditions and regulatory clarity.
Will XRP reach $500 dollars?
While some extremely optimistic projections suggest XRP
could reach $500, this target appears unrealistic for the near term. More
conservative estimates indicate such valuations might only be possible by 2050,
if at all, considering market dynamics and adoption rates.
Can Ripple XRP reach $50 and by when?
Analysts project XRP could potentially reach $50 within the
next decade, approximately by 2035, with predictions showing a minimum price of
$27.68 and a maximum of $57.69 during this period. This projection assumes
continued market growth and widespread adoption of Ripple's payment solutions.
Is XRP worth buying now?
The current price correction presents a potential entry
point for long-term investors, with XRP trading at key support levels around
$2.17. However, investors should consider the market's inherent volatility,
regulatory environment, and broader economic factors before making investment
decisions. The token's strong fundamentals, growing adoption, and technological
developments suggest potential for future growth, though careful risk
assessment is essential.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
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In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
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In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
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Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
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👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
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You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
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Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
