According to U.Today, the cryptocurrency XRP, which saw a 7% rise in May, might experience potential instability in June. In May, XRP surpassed the significant psychological threshold of $0.5 and maintained its stability, causing frustration among investors who were anticipating more substantial price fluctuations. Despite the performance in May aligning with the token's historical average gain of 27.7%, June might not yield the same positive returns.
Historically, June has not been a favorable month for XRP. Over a decade of data shows that the average return for June is -5.59% and the median return is -8.92%. This indicates a probable downturn for XRP in the upcoming month. As per CryptoRank, the last profitable June for XRP was in 2017, with all subsequent Junes ending with losses of at least 8.15%.
While the cryptocurrency market is known for its unpredictability, the historical data for XRP provides a significant sample due to its status as one of the oldest tokens on the market. Investors are advised to be cautious as patterns over the years suggest a high likelihood of negative returns in June.
The stability that XRP demonstrated in May, despite the absence of strong swings, is now in stark contrast to the less optimistic forecast for June. If historical trends persist, XRP bulls might find themselves disappointed as the token could face a decline.
While the market awaits the results, the reliability of the XRP price history remains questionable. Whether historical patterns will continue in June is yet to be seen, but the data suggests that investors hoping for growth in the first month of summer should exercise caution.
