The <a href="https://www.newsbtc.com/news/google-ai-predicts-when-xrp-price-will-cross-5-and-what-will-drive-it/">XRP price is on a war path</a> today and has already begun to rally. Interestingly, this rally is coming at a time when the rest of the crypto market is seeing a slowdown with spots of losses here and there. So what is driving the XRP price rally? 
<h2 class="p2" id="ripple-seeing-some-positive-upsides">Ripple Seeing Some Positive Upsides</h2> 
A lot of the positive sentiment that has triggered the <a href="https://www.newsbtc.com/analysis/xrp/crypto-alarm-xrps-trade-volume-hits-six-year-low-a-cause-for-concern/">XRP</a> price rally can be traced back to its parent company, <a href="https://www.newsbtc.com/analysis/xrp/xrp-price-up-today-ripple/">Ripple</a>. Ripple which has had a rally outstanding year continues to seem more upside, especially in the FTX bankruptcy case. 
In a new development, a court filing showed that Ripple is set to claim around $11 million in the wake of the <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-touches-20000-for-first-time-post-ftx-collapse/">FTX collapse</a>. The claim is actually being made by Ripple Singapore against Alameda assets. So in the event of a distribution, Ripple will be receiving a payout from FTX. 
Additionally, Ripple has received support from <a href="https://www.newsbtc.com/news/kraken-ahead-in-altcoin-liquidity/">Kraken</a>, one of the largest crypto exchanges in the world, in an ongoing lawsuit. The lawsuit titled Zakinov v. <a href="https://www.newsbtc.com/analysis/xrp/xrp-price-up-today-ripple/">Ripple</a> is a battle that encompasses the security status of the XRP token. 
As a result, the <a href="https://www.newsbtc.com/news/kraken-ahead-in-altcoin-liquidity/">Kraken crypto exchange</a>, as well as others in the country, are being asked to submit data on customers who traded <a href="https://www.newsbtc.com/analysis/xrp/long-term-analysis-better-for-xrp-price-crypto-enthusiast-says/">XRP</a>. However, the exchanges are fighting back and Kraken has backed Ripple in the lawsuit, citing that sharing customers’ data could be interpreted as the exchange siding with the plaintiff (Zakinov). 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/Vjcy9GTR/" alt="XRP price chart from Tradingview.com" width="3266" height="1530"> 
<h2 class="p2" id="a-bullish-month-for-xrp-price">A Bullish Month For XRP Price</h2> 
In addition to the positive news that has emerged around <a href="https://www.newsbtc.com/news/shiba-inu-ripple-massive-300-billion-transfer-sends-crypto-community-into-speculation/">Ripple</a> recently, the XRP price has also entered a period that is considered to be incredibly bullish for its price. According to historical data, December has always been the best-performing month for XRP. 
The highest average monthly returns for <a href="https://www.newsbtc.com/analysis/xrp/crypto-founder-xrp-price-22/">the XRP price</a> over the years have seen <a href="https://bitcoinist.com/xrp-best-top-10-crypto-november/" rel="nofollow">December emerge at more than 100% of the performance</a> across other months. So if this holds, <a href="https://www.newsbtc.com/analysis/xrp/crypto-analyst-xrp-5-85/">the altcoin’s price</a> could continue to rally as the year runs to a close. 
Q4 is also the best quarter for the coin, no doubt as a result of the outperformance that has been recorded by the coin, especially in the month of December. Thus, it is not out of the ordinary that <a href="https://www.newsbtc.com/analysis/xrp/changelly-xrp-price-10/">the XRP price</a> is surging today while other cryptocurrencies are down. 
There have also been talks of a <a href="https://www.newsbtc.com/analysis/xrp/ripple-burn-40-billion-xrp/">possible burn of all of the XRP tokens held by Ripple in escrow</a>. Naturally, a burn of this magnitude would cause XRP’s price to explode. But the speculation continues to drive the price for now. 
At the time of writing, <a href="https://www.newsbtc.com/xrp-news/xrp-price-forecast-wave-5-signals-impending-supercharged-growth-to-13-by-2024/">XRP</a> is trending at $0.64 after rising around 4% in the last 24 hours.

Why Did The XRP Price Surge To $0.64 Today?

Table of Contents

NewsBTC

Other articles published on Dec 25, 2023

Argentina Greenlights Bitcoin for Contract Settlements in Economic Overhaul

VeChain Price Records New Yearly High! What’s Next For VET Price This Week?

Will HELIUM Correction Make a U-Turn or Extend its Journey

Defra Announces Remote Veterinary Inspections for AI Movement Licenses in England

Memeinator’s presale now in stage ten, raises over $2.4 million

Coinbase’s Base Network Achieves Consistent Growth, Reaching $734 Million in Total Value Locked

Join our free newsletter for daily crypto updates!