XRP Price Prediction: Top 4 Altcoins Ready for December Rally

Analyst Mikybull Crypto pointed out in a Nov. 30 X post that this change in Bitcoin dominance could lead to a significant upswing for altcoins in December.

Source: Mikybull Crypto

The period, known as altseason, typically happens when Bitcoin’s dominance over the crypto market wanes. A declining Bitcoin dominance indicates that investors are moving their funds from Bitcoin into 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) skyrocket by over 160% since Donald Trump won the U.S. presidential election on Nov. 5. Analysts believe this could propel Ether past $4,000 in the near term.

The XRP news has been all good recently. On Dec. 1, Ripple unlocked 1 billion XRP tokens, valued at $1.92 billion. This routine release aims to ensure a predictable supply of XRP, aligning with its long-term escrow plan to release 55 billion tokens—about 55% of the total supply.

Source: whale_alert

Despite these releases diluting supply, the XRP price continues to rise. November marked its best month since December 2017, with a stunning 284% surge. XRP currently trades at $2.44 at the time of writing, marking a 30% gain in the last 24 hours.

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

Adding to the bullish sentiment, data from XRPScan revealed a 10x increase in XRP wallet activations over the last three months, reflecting growing investor interest. The XRP rally is potentially driven by the ETF buzz and expectations of a favorable regulatory environment, especially after SEC Chair Gary Gensler announced his departure.

Source: XRPScan

The market cap of XRP (XRP) crossed US$100 billion over the weekend as it continued an aggressive rally that does not look like stopping anytime soon.

XRP was built by Ripple, a payment company, that aims to compete with the cross-border banking payment protocol SWIFT through products like the XRP ledger. XRP supports the permissionless payment network XRP ledger as its native token.

XRP gained fresh momentum last week, following reports that the New York Department of Financial Services had indicated to Ripple that it would be approving the company’s legally regulated stablecoin RLUSD. It is believed that Ripple

Dogecoin, often dubbed the king of meme coins, could benefit from a seasonal phenomenon known as the “Santa Claus rally.” Traditionally observed in stock markets, this rally often pushes asset prices higher in the final days of December and the first days of January.

DOGE has shown impressive December performances in the past. CryptoRank data highlights a staggering 337.5% rise in December 2017 and moderate gains of 32.4% in 2020. Although last December saw a 34.7% drop, some traders anticipate a potential rebound this year, citing DOGE’s unique market dynamics and popularity.

Injective (INJ), a decentralized exchange protocol, has been making strides with recent upgrades to its mainnet. These improvements enhance scalability and user experience, likely drawing more traders and boosting the demand for INJ tokens.

Strategic partnerships with other DeFi projects have bolstered Injective’s ecosystem, offering users more trading options. Its price action supports the bullish narrative. Since Nov. 4, when it broke above descending resistance, INJ’s price soared 80%, reaching $31. Analysts suggest this is just the beginning of a larger five-wave rally expected to unfold through December.

Source: TradingView

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

The Render Network’s growth has been phenomenal, driven by infrastructure improvements that enhance rendering speed and reduce costs. These advancements have made the platform increasingly popular among digital creators. Similar to INJ, RNDR’s price has risen sharply, climbing 116% since Nov. 4. It is currently trading around $9, with analysts eyeing a potential revisit to its yearly high of $13.60.

Source: TradingView