"All XRP holders must expect the price to go up this month, right?"
Many analysts are predicting an altcoin bull run due to Bitcoin's (BTC) recent rally, so the question now is whether Ripple (XRP) will be able to follow BTC's bull run this month?
As such, there are various factors to consider and in terms of the derivatives market, XRP's open interest has surged over the past few days indicating the possibility of increased volatility in the future.
Not only that, the entire cryptocurrency market is able to react during the Federal Open Market Committee (FOMC) meeting that takes place on December 13, 2023 where the Federal Reserve (Fed) will decide whether to raise interest rates or not.
However, the Fed is likely to keep interest rates unchanged, so this may be why riskier assets like crypto are gaining momentum from investors unfazed by the upcoming FOMC meeting.
Like to be informed that there are small drivers that can drive the price of XRP upwards, for example if XRP announces an interesting partnership or releases a major update of its product that can have a positive effect on its price.
Additionally, any positive development on the ongoing case between the Securities and Exchange Commission (SEC) is also a catalyst for the XRP price to go higher plus there is speculation about a potential XRP IPO.
Basically, there are multiple specific projects that can increase the price of XRP when entering the last month of 2023.
As of this writing, the price of XRP which surged as high as $0.64 before falling back to $0.58 has now bounced back to trade at $0.61 with a market cap of $33 billion then recording a 2.56% climb over the last week.
