The size of the cryptocurrency market has fallen to $1.65 trillion, and a wider decline in significant digital assets has caused Ripple’s XRP price to drop 5% to $0.62. Notwithstanding the decline, analysts see a bright future for XRP, projecting a gain to $1.40 by March 2024 and the possibility of a “Golden Cross” event driving up the stock’s value.
More than 1.5 million XRP transactions occur every day according to on-chain data, and the number of XRP wallets is increasing, which may indicate an impending rally. Prominent digital assets, such as Ripple, Cardano, Ether, Solana, and Bitcoin, are all down, and traders are waiting for the market to react. Experts like JD and EGRAG CRYPTO are bullish about XRP’s prospects, projecting a price increase and possible “Golden Cross” occurrence.
Even if the price of XRP has dropped recently, certain on-chain data suggest that it may soon rise again. On December 9 and December 10, respectively, over 1.5 million and over 1 million transactions were completed. In addition, there has been an increase in the quantity of recently opened accounts, and there are now more XRP wallets than 4.9 million.