Ripple (XRP) Price Predictions, Bitcoin (BTC) Looking for a Breakout, Bonk Inu (BONK) Loses Steam: Bits Recap Dec 20

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Ripple (XRP) Price Predictions, Bitcoin (BTC) Looking for a Breakout, Bonk Inu (BONK) Loses Steam: Bits Recap Dec 20
Blockonomics


TL;DR

Bitcoin (BTC): Reached over $44,000 in December but then declined. Analysts predict potential rise to $100,000 by 2025-2026, influenced by the 2024 halving event.
Ripple (XRP): Peaked above $0.80 in July, now fluctuating around $0.60. Future projections vary, with some expecting significant growth.
Bonk Inu (BONK): Experienced a sharp rise, surpassing a $2 billion market cap, but recently faced a decline, raising questions about its long-term viability.

Is Bitcoin (BTC) Getting Ready for Another Rally?

The leading cryptocurrency by market capitalization – Bitcoin (BTC) – experienced an explosive price surge at the start of December, reaching a 20-month of over $44,000. And while many expected this uptrend to continue in the following weeks, the asset headed south in resonance with an overall market correction.

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BTC dropped below $41,000 in mid-December but shortly after spiked again, exceeding $43,000. Currently, it hovers around $42,600 (per CoinGecko’s data), with some analysts believing this could be a solid starting point for skyrocketing to a new all-time high in the next few years.

DonAlt – the host of the popular YouTube channel Technical Roundup – outlined the upcoming BTC halving (scheduled for April 2024) as a major catalyst that could push the asset toward the coveted level of $100,000. He predicted that such a mark might be touched in 2025 or 2026.

Those curious to learn whether the BTC bull run has already started, as well as what other elements may play a role in its price appreciation, could take a look at our latest video below:

What About Ripple (XRP)?

Ripple’s native token – XRP – made the headlines in mid-July this year, with its price jumping above $0.80. This came shortly after Ripple won its first major (yet partial) victory against the United States Securities and Exchange Commission (SEC).

Nonetheless, the coin could not keep the momentum, hovering between $0.50 and $0.70 in the following months. Currently, it stands at $0.60, while numerous experts believe the valuation could head north before the end of the ongoing year. 

The popular X (Twitter) user Dark Defender recently claimed XRP could soar to $0.85 by New Year’s Eve should it stay above the $0.56 and $0.52 support marks. 

Patrick Riley – founder of Reaper Financial – was far more bullish, envisioning the asset to explode to $22. In his view, such a record would be possible since Ethereum is a “dying horse that’s been limping along for a long time,” and its doom might push investors toward other crypto projects, including Ripple.

Those willing to check how XRP could perform in the remaining weeks of 2023 can take a look at our dedicated video below:

BONK Loses Ground

Last but not least, we will touch upon the latest sensation in the crypto sector – Bonk Inu (BONK). The Solana memecoin was in the spotlight in the past several weeks when its price was charting new ATHs almost daily. It peaked on December 15, when BONK’s market capitalization surpassed the $2 billion mark, becoming the third-biggest token in the memecoin realm.

Its massive rally could be attributed to Solana’s success and the support coming from leading crypto exchanges. As CryptoPotato reported, both Binance and Coinbase listed BONK on their platforms. 

However, the asset has been on a downfall in the past few days, and some might wonder whether the hype surrounding it has started to vaporize. BONK has plunged by over 11% in the last 24 hour hours, whereas its market cap dropped below $1.2 billion.

 

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