- XRP experienced a volatile week, reaching $2.58 before declining to $2.27, but still showing a 48% increase over seven days.
- The cryptocurrency market saw corrections, with Bitcoin dropping to $96,000 and XRP losing 23% of its value since December 3.
- Despite recent losses, XRP remains on an upward trend, with potential positive impacts expected from upcoming changes in the SEC and political leadership.
Following its outstanding performance in the last month, Ripple Labs’ XRP token appears to have finally faced a major correction.
The week was highly volatile for the currency, which in that same time frame saw its value rise upwards of $2.58 — and later decline to the current $2.27 per token. That is not to say December’s first week wasn’t a good period for holders, as the asset is still up 48% over the past seven days.
Looking from the perspective of a larger scale, it is easy to see why XRP became the fastest-growing asset in the crypto market in recent times. Over the last 30 days, XRP gained a whopping 339% in value — reaching the outstanding mark of the third largest cryptocurrency by market capitalization in the world.
XRP Correction, What to Expect?
This recent decrease in value shouldn’t be seen as cause for alarm, as corrections are normal in the crypto market. Overall, Bitcoin’s historic price of $100,000 per coin may have prompted the market to collect a few of those profits.
Since then, most assets have seen a plunge, with Bitcoin itself falling to $96,000 and a 2.35% decrease in 24 hours. As for XRP, today’s decrease aligns with a not-so-positive trend since December 3, with the asset losing 23% of its value.
While this may seem disappointing, there is little reason to panic. Overall, the asset is still on a strong upward trend and could look to regain the recent level losses soon. Adding to that, the next year promises to be impactful for the currency, as Donald Trump takes office, and a more ‘pro-crypto’ SEC under its new leadership promises to turn the tides even more in favor of digital assets.
