The price of XRP turned green on the eve of Christmas Eve Bull Market

Today is Christmas Eve, in the cryptocurrency market, the prices of our favorite digital assets have all turned into holiday green. Currently, the third largest cryptocurrency XRP is no exception, with its price jumping from the day's low to a recent high of $2.325, an increase of over 5.1%.

In the past few days, it has been tough not only for XRP, but also for the entire cryptocurrency market, as its market value evaporated by about $416 billion, accounting for 11.53% of the total market value, and continues to decline.

However, today's trading day proved the bears wrong, as firstly, Bitcoin (BTC) broke the downward trend, and then all alternative cryptocurrencies experienced a wave of price increases. Now that we have the bull run, the question remains: will the new optimism last long enough for XRP to at least recover to the pre-sell-off level?

CoinMarketCap's XRP to USD exchange rate

From a certain point of view, tomorrow is Christmas, and traditionally, in the festive atmosphere, the cryptocurrency market reacts accordingly.

On the other hand, we are in this time of the market, where all traders and fund managers must balance books, complete transactions, report profits and losses, bid farewell, and enjoy the year-end holidays.

Will XRP reach an annual high in 2024?

If this pattern (common in traditional financial markets) didn't have much impact on cryptocurrencies in previous cycles; this time, with the arrival of traditional financial institutions such as BlackRock and Fidelity, the same trend may also apply to the non-stop digital assets.

XRP sets its local high at $2.90, with its all-time high above $3.3. Currently, the trading price of the token is $2.30. It is still at least 26% higher than the recent high, which may be too much for the token to rise in these two days. However, nothing is certain and it may not happen from the beginning, but XRP may end this year with a positive attitude.