- XRP recorded more losses than gains in August over the past 12 years.
- The cryptocurrency is currently 3.36% up this August.
- August is typically not a favorable month for XRP.
A review of XRP’s price in August over the past 12 years shows that the cryptocurrency ended the month in profit only four times—2016, 2017, 2020, and 2021. Rest of the years, the token stumbled losses and the worst happened during 2023, while XRP’s price dipped by 26.6%.
XRP’s best August performance was in 2021
Of all the years, XRP recorded the highest August gain in 2021 after rallying 59.9% during that period. The next highest August profit happened in 2017, when the cryptocurrency gained 52.1%. Although XRP has posted losses in August twice the time it ended the month in profit, the current market trend suggests this August could make it the fifth time the cryptocurrency will end the month in profit.
Data from CryptoRank shows that XRP is currently 3.36% up this August while trading for $3.11 at the time of writing. That is a considerable gain from the cryptocurrency’s performance last year, when it ended the month with a cumulative 9.17% loss. Apart from in 2024, XRP recorded losses in 2013, 2014, 2015, 2018, 2019, and 2022.
Related: XRP Rally Is in Its “Final Stage,” Warns Veteran Trader with an $8-$13 Target
What to expect from XRP this month
XRP experienced its most significant August loss in 2018 after ending the month with a 23% loss. However, despite having more losing years of August declines, the cryptocurrency’s average performance in the eight month is 1.25% in profit, while the median performance is -5.72%.
It is crucial to note that historical data reveals that August is typically not a favorable month for XRP. The cryptocurrency has more tendency to end the month in a loss rather than in profit. Hence, if XRP follows the average performance for August, the altcoin would end the current month at $3.0577.
Related: Whales Fuel XRP Rally — Key Breakout Could Push Price Toward $4.44
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred from utilizing the content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
