Just weeks prior, market sentiment was more optimistic, with around 38% of traders expecting XRP to rally to a range of $2.00 to $2.50 by December 31. However, that figure has since dropped to 28%, reflecting a significant decline in confidence.\u00a0<\/p>\n
The possibility of the cryptocurrency exceeding $2.50 appears almost non-existent, as only about 4% of respondents foresee it reaching the $2.50 to $3.00 range, and a similar 4% predict it could surpass $3.00.\u00a0<\/p>\n
The consensus of 73% predicting an XRP finish between $1.50 and $2.00 marks an increase from the 63% recorded earlier in the poll. This growing alignment among poll participants indicates that they are consolidating around this range as the most likely scenario.<\/p>\n
Furthermore, the sentiment towards higher price levels has significantly shifted. The percentage of voters anticipating a rally into the mid-$2 range has dwindled to a mere 4%, reflecting dwindling confidence after several failed attempts to break through resistance levels.\u00a0<\/p>\n
Even the outlook for the altcoin\u2019s price to drop below $1.50 has risen slightly to 7%, up from 6%, although most believe a sharp sell-off is unlikely.<\/p>\n
Rising Supply From Early Investors<\/h2>\n
This prevailing sentiment aligns with Futures data indicating a prevalence of aggressive sell orders, while the slow accumulation of XRP in exchange-traded funds (ETFs) at a pace of $30 to $50 million daily cannot keep up with profit-taking and risk reduction activities in the market.\u00a0<\/p>\n
On-chain data reveals that significant realized gains have been secured as XRP approached its recent highs. For instance, a long-term holder who initially acquired the altcoin around $0.40 sold over 350 million tokens at approximately $2.00, reaping an estimated profit of $721 million.<\/p>\n
With many early investors reportedly cashing out at the $2 level, there has been minimal support for dip-buying to bolster the price, keeping it in the current range between $1.7 and $1.8 recorded in the week.\u00a0<\/p>\n
Experts suggest that when the supply increases from long-term holders, whose initial investments were made at $0.40 to $0.60, it creates a resistance ceiling that is challenging to break without substantial new demand entering the market.<\/p>\n
<\/p>\n
At the time of writing, XRP was trading at $1.830. The altcoin has recorded major losses in all time frames, with a year-to-date decline of 15%, in line with the broader market’s performance.\u00a0<\/p>\n
Featured image from DALL-E, chart from TradingView.com\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
As the year draws to a close, XRP investors are increasingly adopting a bearish outlook, anticipating that the altcoin will remain below the critical $2 threshold.\u00a0 XRP Forecasts Dipped A recent poll conducted by cryptocurrency exchange Gemini, running from December 12 to 23, reveals that 73% of investors predict XRP will finish the year between…<\/p>\n","protected":false},"author":1,"featured_media":9063,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[361],"tags":[51,250,53,148,4233,1675,326,4234,492,1001,4235,152],"class_list":["post-9062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-xrp-news","tag-crypto","tag-crypto-market","tag-crypto-news","tag-xrp","tag-xrp-etf-news","tag-xrp-etfs","tag-xrp-news","tag-xrp-poll","tag-xrp-price-forecast","tag-xrp-price-news","tag-xrp-price-predictions","tag-xrpusdt"],"_links":{"self":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/9062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/comments?post=9062"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/9062\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/9063"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=9062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=9062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=9062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}