According to U.Today, the seventh largest digital asset, XRP, experienced a significant 5% price increase in May, surpassing the crucial $0.5 mark and maintaining overall price stability. Despite this, historical data indicates that June may not be as favorable for XRP enthusiasts. Over the past decade, June has proven to be a challenging month for the popular cryptocurrency.
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 suggests a high probability that XRP will experience a downturn in June. CryptoRank reports that since 2017, XRP has consistently resulted in losses for its investors in June, with declines of at least 8.2%.
The cryptocurrency market is known for its volatility, but the statistical sample for XRP is relatively solid, given that it is one of the oldest digital tokens. This long history provides a good indication of what to expect. Therefore, investors should be prepared for a potential loss in the first month of summer.
XRP demonstrated stability in May, with no significant price swings. This is a stark contrast to what is typically observed in June. If history repeats itself, those hoping for further growth may be disappointed. Investors anticipating a June rally for XRP might want to reconsider, as the historical data points towards a likely downturn.