While maneuvering through the challenges of December in the world of cryptocurrency, XRP found itself again within a historical downward trend, signaling a potential decline in its price. XRP is currently experiencing a 2.67% decline over 24 hours, valued at $0.615, and has shown a worrying performance with a 2.7% drop over the past week.
XRP’s recent fall is part of a larger trend that has been struggling with a 2.7% drop over the past week. The question arises whether the digital asset is preparing for a historical December decline trend.
An analysis of Cryptorank data reveals a disturbing pattern. If the current trend continues, XRP could complete December with a decline and align with a historical trend observed over the last decade.
Despite a promising start at the beginning of December 2022, XRP lost its momentum and gave back its previous gains. The historical chart, with a few exceptions, shows that XRP has struggled to maintain an upward trend in December.
Despite XRP’s struggle with a 16.9% negative close in December 2022, there is still time for a potential recovery. However, current measures indicate that the trading volume has dropped by 11% overnight to $1,469,837,227, indicating a challenging situation. XRP needs to find the motivation to challenge its downward trend and support its growth.