What To Expect This Month For XRP Price According To Historical Data
13 October 2023 - 4:00AM
NEWSBTC
The XRP price has had a rollercoaster growth trajectory which was
mostly hindered by the US Securities and Exchange Commission (SEC)
filing a lawsuit against Ripple. But a lot of the altcoin’s
performances over the months have been rather predictable, and with
its history, we can get an idea of what to expect for the XRP price
this month. October Not Looking Good For XRP Price In a heat map of
historical XRP price data generated by NewsBTC, we can see how the
month of October has usually gone in the past. The heat map shows
XRP’s performance over the last eight years and the figures for
October are some of the worst historically. As shown in the image
below, the month of October has historically seen more losses than
gains when it comes to the XRP price. In fact, out of the last
eight years, only two years have seen October record a positive
return for the XRP price. In the first four years of the altcoin’s
life, we can see that the month of October was characterized by
losses. Then in the fifth year in 2019, XRP saw its first
profitable October with a 14.84% increase. Then from there, there
is an alternating trend recorded with one year being profitable and
the next being filled with losses. October has been historically
bearish for XRP | Source: NewsBTC The year 2022 was no different,
seeing 3.24% losses after the previous year saw October end with
16.71% gains. So if this holds, it could be that October 2023 would
end on a good note. However, as the charts show, this month is
already seeing XRP prices fall, so for it to finish strong, there
would have to be a massive price reversal. Otherwise, October 2023
could stick to historical performance and end in the red. October
Is Not A Good Month As shown in this report from Bitcoinist, taking
an average of the XRP price performance in October over the years
shows that it is not a good month for the altcoin. The chart shared
in the report reveals that historically, October is the third-worst
month for the cryptocurrency. The only months that have seen worse
performance than October are the months of February with slightly
higher loss numbers. Meanwhile, June takes the crown for the month
with the worst returns as the last 7 seven years have seen the
month end with losses. On the other hand, December presents as the
best month for the XRP price. This is followed by April being the
second, with May and March snagging fourth and fifth place,
respectively. January, November, and September are also profitable
months but to a much lesser degree. XRP suffers losses in October |
Source: XRPUSD on Tradingview.com Featured image from
CoinMarketCap, chart from Tradingview.com
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