Fri, 31/05/2024 – 15:55
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In May, the seventh largest digital asset saw a notable 5% price increase, crossing the important $0.5 mark and maintaining overall price stability. However, historical data suggests that the upcoming month may not be as promising for XRP enthusiasts. Over the past decade, June has been a tough month for the popular cryptocurrency.
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The average return on investments in XRP during the first summer month stands at -5.59%, with the median return being even worse at almost 9%. This historical pattern shows that there is a high chance that XRP will go down in June. CryptoRank says that since 2017, XRP has consistently lost money in June for its investors, with declines of at least 8.2%.
The crypto market is known for being volatile, but the statistical sample for XRP is pretty solid, given that it is one of the oldest digital tokens. This long history gives a good idea of what to expect. So, It looks like investors should be ready for a possible loss in the first month of summer.
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XRP was pretty stable in May, with no big price swings. That is a big change from what we typically see in June. If history repeats itself, those who are hoping for more growth might be disappointed. If you are an investor looking for a June rally for XRP, you might want to think twice. The historical data points toward a likely downturn.
