Cryptocurrencies Price Prediction: XRP, Bitcoin & Crypto – European Wrap 20 December

XRP could rally nearly 15% as Ripple gets crypto license in Ireland

Ripple’s Chief Legal Officer, Stuart Alderoty, said on Wednesday that the cross-border payment remittance firm got the approval to operate as a digital asset provider in Ireland. The green light to operate in the European country follows the approval of other licenses in Singapore and Dubai earlier this year. 

The payment giant’s access to new markets drives XRP adoption and utility. This could trigger gains in XRP price. 

Bitcoin price eyes $48,000 target amidst rising profitability of long term BTC holders

Bitcoin price sustained nearly 3% weekly gains as price steadied above the $42,500 level on Wednesday. According to a recent Glassnode report on Bitcoin, in 2023, long-term, short-term and average holders turned from unprofitable to a moderately profitable state following Bitcoin price gains in the fourth quarter. While the unrealized profit-loss ratio is not at a euphoric high, it has crossed the break-even level.

Steady recovery signals strength amid market cautiousness

Crypto market capitalisation has changed little over the past 24 hours, standing at $1.61 trillion with fluctuations between $1.57 trillion and $1.62 trillion. The cryptocurrency market remains cautious, which can easily be explained by the perception that cryptocurrencies have grown far more than expected in the past year. But the correction is no longer prevalent.