Gamza Khanzadaev
After rise in price in May, XRP is likely to face downturn in June if history repeats itself
The popular cryptocurrency XRP, which rose 7% in May, could face potential turbulence in June. Last month, XRP ascended above the important psychological mark of $0.5 and maintained stability, much to the annoyance of investors expecting more significant price changes.
Despite the performance in May, which is in line with the token’s historical average gain of 27.7%, June may not bring the same positive returns.
Historically, the first month of summer has not been favorable for XRP. Over more than a decade of history, the average return for June is -5.59% and the median return is -8.92%. This suggests a likely downturn for XRP in the coming month. According to CryptoRank, the last profitable June for XRP was in 2017, and all subsequent Junes have ended with losses of at least 8.15%.
While the crypto market is known for its unpredictability, the historical data for XRP represents a significant sample given its status as one of the oldest tokens on the market. Investors should be cautious as patterns over the years indicate a high probability of negative returns in June.
The stability that XRP showed in May, despite the lack of strong swings, is now in stark contrast to the less optimistic outlook for June. If historical trends continue, XRP bulls may find themselves disappointed as the token could face a decline.
While the market awaits the results, the reliability of the XRP price history remains in question. Whether historical patterns will continue in June remains to be seen, but the data suggests that investors hoping for growth in the first month of summer should be cautious.
