XRP Price Prediction: Top 4 Altcoins Ready for December Rally

Bitcoin’s dominance in the crypto market has reached a critical point, falling to 56%, a two-year low. This shift signals the start of “alt season,” where smaller cryptocurrencies often rise as investors switch from Bitcoin to altcoins. Here are the top 4 “alts” for December – with XRP at the top.

Analyst Mikybull Crypto noted in a Nov. 30 X post that this shift in Bitcoin dominance could lead to a significant rally in altcoins in December.

Source: Mikybull Crypto

The period known as altseason typically occurs when Bitcoin’s dominance over the crypto market wanes. Declining Bitcoin dominance suggests that investors are shifting their funds from Bitcoin to alternative digital assets, potentially driving up their prices.

Source: Rekt Capital

The trend is already visible. Ether, the second-largest cryptocurrency, has seen demand for leveraged exchange-traded funds (ETFs) surge by over 160% since Donald Trump won the US presidential election on November 5. Analysts believe this could push Ether to over $4,000 in the near future.

Ripple (XRP) rose 284% in November – still eyeing the $2.57 level

The XRP news has been consistently good lately. On December 1st, Ripple unlocked 1 billion XRP tokens worth $1.92 billion. This routine release aims to ensure a predictable supply of XRP and is in line with the long-term escrow plan to release 55 billion tokens – approximately 55% of the total supply.

Source: Whale_alert

Although these releases dilute supply, the XRP price continues to rise. November was the best month since December 2017, with an impressive 284% increase. At the time of writing, XRP is currently trading at $2.44, up 30% in the last 24 hours.

XRP price prediction

“XRP could reach $2.57 in (December 2024) (…), which has historically shown significant growth (…) in 228 days after Bitcoin’s halving,” said Ryan Lee, chief analyst at Bitget Research.

Adding to the bullish sentiment, data from XRPScan showed a 10-fold increase in XRP wallet activations over the past three months, reflecting growing investor interest. The XRP rally may be fueled by enthusiasm for ETFs and expectations of a favorable regulatory environment, especially after SEC Chairman Gary Gensler announced his resignation.

Source: XRPScan

XRP’s (XRP) market cap surpassed $100 billion over the weekend, continuing an aggressive rally that doesn’t look like it’s going to end anytime soon.

XRP was developed by Ripple, a payments company that aims to compete with the cross-border bank payment protocol SWIFT with products such as the XRP Ledger. XRP supports the permissionless payment network XRP Ledger as a native token.

XRP gained new momentum last week after it was reported that the New York Treasury Department had told Ripple that it would approve the company’s legally regulated stablecoin RLUSD. It is believed that Ripple

Will Dogecoin (DOGE) See a 337.5% Rally in December?

Dogecoin, often referred to as the king of meme coins, could benefit from a seasonal phenomenon known as the “Santa Claus Rally.” This rally, traditionally seen in stock markets, often drives up asset prices in the last days of December and the first days of January.

DOGE has a history of showing impressive performances in December. CryptoRank data shows a staggering 337.5% increase in December 2017 and moderate gains of 32.4% in 2020. Although there was a 34.7% decline last December, some traders are anticipating an eventual recovery this year and point to the unique market dynamics and popularity of DOGE.

Can Injective (INJ) Price Rise 80%?

Injective (INJ), a decentralized exchange protocol, has made great strides with recent upgrades to its mainnet. These improvements improve scalability and user experience, likely attracting more traders and increasing demand for INJ tokens.

Strategic partnerships with other DeFi projects have strengthened Injective’s ecosystem and provided users with more trading options. Its price action supports the bullish narrative. Since November 4th, when it broke through descending resistance, the price of INJ has increased by 80% to reach $31. Analysts believe this is just the beginning of a larger five-wave rally that is expected to unfold through December.

Source: TradingView

Can Render (RNDR) Reach $13.60?

Render (RNDR) is carving out a niche in the crypto market with its decentralized GPU rendering network. This platform connects digital developers with GPU performance providers, streamlining rendering processes for artists and studios.

The growth of the Render Network has been phenomenal, driven by infrastructure improvements that increase rendering speeds and reduce costs. These advancements have led to the platform becoming increasingly popular among digital developers. Similar to INJ, the price of RNDR has surged, rising 116% since November 4th. The price is currently around $9, with analysts eyeing a possible return to the yearly high of $13.60.

Source: TradingView