XRP Price Prediction: What Price Will XRP Hit in August?#CryptoNewss
$XRP
$XLM
$BNB
#Market_Update XRP (CRYPTO:XRP) traded at $1.85 at the start of the year and rallied to $2.41 in the first week of January. But that remains the highest level the cryptocurrency has reached all year, as it has spent the rest of the year giving back the gains and losing about 43% of its value.
The XRP price has dropped month after month, hitting a low of $1.009 on June 26, and has been stuck between $1 and $1.18 since late June. XRP enters August at $1.06, with the $1 support the only level bulls have successfully defended so far this year. So, what price will XRP hit in August?
History Says August Is the Month XRP Goes Nowhere
August is the flattest month XRP has ever recorded, averaging a return of just 0.43%. The token has closed the month lower for four straight years, which makes this the longest active losing streak of any month in its history. Last August alone, the XRP price dropped by 8%.
What’s baffling is that the flat stretch arrives right after XRP’s most dependable month, which underdelivered this year. July has closed in the green every year since 2020, rising about 10% on averageAlthough this July made it the seventh consecutive year XRP has closed the month positive, the coin gained a measly 2%, closing the month at $1.06 with a $1.04 starting price.
Meanwhile, the 0.43% average gain in August hides how XRP usually trades for the month. XRP jumped 52% in August 2021 and fell 8% last year, and the near-zero average only exists because the big up years and the down years cancel each other out. XRP can still move plenty in August, but it would need a catalyst.
$XRP
$XLM
$BNB
#Market_Update XRP (CRYPTO:XRP) traded at $1.85 at the start of the year and rallied to $2.41 in the first week of January. But that remains the highest level the cryptocurrency has reached all year, as it has spent the rest of the year giving back the gains and losing about 43% of its value.
The XRP price has dropped month after month, hitting a low of $1.009 on June 26, and has been stuck between $1 and $1.18 since late June. XRP enters August at $1.06, with the $1 support the only level bulls have successfully defended so far this year. So, what price will XRP hit in August?
History Says August Is the Month XRP Goes Nowhere
August is the flattest month XRP has ever recorded, averaging a return of just 0.43%. The token has closed the month lower for four straight years, which makes this the longest active losing streak of any month in its history. Last August alone, the XRP price dropped by 8%.
What’s baffling is that the flat stretch arrives right after XRP’s most dependable month, which underdelivered this year. July has closed in the green every year since 2020, rising about 10% on averageAlthough this July made it the seventh consecutive year XRP has closed the month positive, the coin gained a measly 2%, closing the month at $1.06 with a $1.04 starting price.
Meanwhile, the 0.43% average gain in August hides how XRP usually trades for the month. XRP jumped 52% in August 2021 and fell 8% last year, and the near-zero average only exists because the big up years and the down years cancel each other out. XRP can still move plenty in August, but it would need a catalyst.