The XRP price ended the month of December at around $2.08 after a period of back and forth between gains and declines. Although it ended December just above the $2 mark, the XRP price went through a bullish period in the first half of the month, which saw it peaking around $2.9, its peak price in over six years. 

Despite ending the month at a 28% decline from this six-year peak, XRP has nonetheless achieved the highest monthly candle body close in its history. This interesting phenomenon was noted by crypto analyst Tony Severino, who also suggested that the XRP price is on track to reach $13 this cycle.

XRP Price Completes Highest Candle Body Close In History

XRP ended December at a 6.94% gain from where it started, building upon an unexpected 281.7% increase in November, according to data from CryptoRank. This period of price increases saw XRP receiving considerable attention from crypto analysts and investors, with various predictions of a continued bullish momentum into 2025.

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However, Bitcoin’s failure above the $100,000 price mark seems to have stalled XRP’s momentum alongside many other cryptocurrencies. This caused XRP to spend the latter half of December in a correction plus consolidation path. Nevertheless, the bullish trajectory remains valid for XRP, with recent technical analysis by crypto analyst Tony Severino also lending voice to this.

The XRP price registered its current all-time high of $3.40 in January 2018 but closed out the month at $1.124 to kickstart consecutive bearish candles on the monthly timeframe. As pointed out on the XRP monthly candles by Tony Severino, December 2024 was the highest monthly close for the XRP price.

Although the cryptocurrency failed to break past its current all-time high during December, it managed to accomplish this notable milestone. While this isn’t much of a technical indicator, it lends voice to the lingering bullish momentum surrounding the XRP price, which has prevented further price declines below the $2 mark.

Technical Analysis Points To $13 Price Target

Crypto analyst Tony Severino also highlighted an interesting technical pattern playing out on XRP’s daily candlestick timeframe. According to the analyst, a bull flag seems to be emerging after XRP’s price correction in December. 

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The bull flag pattern identified by Severino is a technical setup often associated with significant price surges. It is characterized by the steep upward movement in November, followed by a period of consolidation in a downward-sloping channel in December. 

A breakout to the upside from the bull flag pattern typically leads to a continuation of the initial rally. In the case of XRP, Tony Severino projected a breakout that would see XRP surge to $13 in the coming months. 

At the time of writing, XRP is trading at $2.37 and is up by about 12% in the past 24 hours. Reaching the projected $13 target would translate to a 450% gain from the current price level.

Featured image created with Dall.E, chart from Tradingview.com

Swapin, an EU-licensed crypto payment infrastructure, has announced the successful completion of their funding round that started back in December 2021. The cap reached was leveled at the €1.68M mark, which significantly enhances the capabilities of the project to develop further.

The first significant step announced by the team is a complete rebranding, which also implies an update to the company brand vision. Swapin is a reflection of the project’s key mission – providing access to instant fund transferring (swapping) between crypto and fiat. Regardless of the exact product you choose by Swapin, it will always be aimed at bridging these two common types of assets and the people that use them.

Swapin B2C and B2B Product Lineup

The announced brand philosophy can easily be seen among the Swapin product lineup, which will comprise at least five services by the end of 2022.  InstaBuy and InstaFill (relatively similar solutions aimed at making instant crypto-to-fiat payouts accessible) will be complemented with a reliable crypto-purchasing tool (InstaBuy) and several products geared at bridging fiat and cryptocurrencies for businesses and individuals – CoinCollector and E-com.

The latter two deserve a closer examination, as B2B product development has been outlined as a prior focus for the ongoing year. 

CoinCollector is a simple but unique online tool that enables businesses to accept payments in crypto and receive the funds directly to their bank accounts without touching or dealing with digital assets. All that’s needed is to create a CoinCollector payment link and share it with a client who wants to pay with crypto. Once the recipient sets the amount that needs to be transferred in fiat, the service provides him a wallet address and exact sum in the crypto of their choice, which will be valid for the next 30 minutes. The only step remaining is completing the transfer, and once that is done, the established amount of euros will hit the merchant’s bank account. CoinCollector fully complies with EU financial regulator requirements as all services by Swapin are supervised by the Estonian Ministry of Financial Affairs and Communications. 

E-com, the second option, is a highly compatible payment widget for online shops and merchants designed specifically for entities. Working almost similar to CoinCollector, it can be permanently integrated into any online store, thus significantly broadening its target audience by adding in those clients looking for the opportunity to pay with their crypto. Another positive fact about E-com and CoinCollector is that they protect both businesses as well as their clients from market fluctuations. This means that the client sees the exact amount of crypto he needs to pay, while the entity always gets the demanded sum in fiat currency.

Swapin 2022 Roadmap And More

This isn’t even an exhaustive list of product updates mentioned in the Swapin 2022 roadmap, as the company seeks to launch a virtual IBAN release option and acquire an EMI (Electronic Money Institution) license by the end of the year. 

When reached for comment, Evald-Hannes Kree, CEO at Swapin, emphasized the company’s recent achievements:

“Swapin is the best possible brand name to reflect our passion – the endless search for a better way to integrate the worlds of digital assets and traditional finances. We see a large and, more importantly, consistently growing demand from both ends, and we know our clients’ needs. Finally, we have the relevant experience of successfully building products that give us a clear vision of further steps. I have no doubts that Swapin has a bright future ahead, especially with the support provided by our respected investors.”

About Swapin

Swapin is an EU-licensed, regulated crypto-to-fiat payment processing company. The company offers a complete set of turn key solutions aimed at bridging the gap between digital and fiat asset flow. Swapin allows the conversion of personal crypto funds or incoming payments in digital assets into direct deposit to the selected IBAN account, avoiding excessive accounting and legal compliance struggles.

The variety of ready-to-go solutions, targeted both at individuals and businesses, allows for immediate fiat settlement in the desired fiat currency in only a matter of clicks.

Cryptos have seen a nice bounce this wee which has been technically expected as drop through September unfolded as a correction. We see some nice intraday bullish structure, but even strong intraday trends may face some pullbacks, so do not be surprised if the market slows down.

The reason for a recent rally on cryptos can be coming from the SEC who approved Volt Equity ETF providing exposure to Bitcoin-centric companies, and also JPMorgan comments who said that investors renewed interest in the usage of bitcoin as an inflation hedge. However, cryptos are volatile and they will always come down at some point.

SHIBA Inu per example lost 40% after we recognized the market in a fifth wave. So nothing moves in a straight line.

Shiba Inu 4h Elliott Wave analysis

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