Here’s how XRP price has historically performed in August over the past 12 years, and let’s try to predict XRP’s outlook for the coming days.
After a bearish start to the month, the market has turned around significantly in just two weeks. Specifically, Bitcoin has established a new all-time high at $124,400, and Ethereum is on track to do the same, potentially breaking into the $5,000 range.
The broader altcoin market is also gradually booming, and all eyes are on XRP to see how it will perform. Notably, XRP briefly touched $3.35 before settling at $3.12 at press time.
XRP Prices in August
According to data from CryptoRank, in this month of August, XRP is up 6.2%, currently trading at $3.12 after closing July at $3.0252.
XRP’s overall performance for August 2024 was a cumulative loss of 9.17%. It opened the month at $0.6239 but dipped to close at $0.5663.
XRP had an even worse performance in August 2023. It opened the month at $0.6985 and closed at $0.5108, marking a significant 26.6% loss. This was the worst August performance in XRP’s history.
Notably, in the previous month, XRP had traded as high as $0.94 on the back of its lawsuit victory, but it quickly gave up those gains.
XRP also posted losses in:
- August 2022: down 13.6%
- August 2019: down 19.7%
- August 2018: down 23%
- August 2015, 2014, and 2013: down 6.57%, 5.72%, and 4.12% respectively
On the other hand, XRP reported notable August gains in:
- 2021: +59.9%
- 2020: +8.5%
- 2017: +52.1%
- 2016: +1.18%
In total, over the past 12 years, XRP has posted losses in August eight times and gains only four times. If the current trend holds, this August may become the fifth time XRP ends the month in the green.
Historically, XRP’s average performance in August is a modest +1.25% gain, with a median performance of -5.72%. This suggests that August is typically not a favorable month for XRP. If XRP observes the +1.25% average gain this August, it will close the month at $3.0577. Meanwhile, if it witnesses the -5.72% drop, its price will slump to $2.85.
XRP in September and July
Also, XRP’s performance in September hasn’t been much better. Since 2013, it has posted an equal number of bullish and bearish returns in September. The average return stands at +14.7%, but the median return is -0.32%.
Conversely, July has historically been a bullish month for XRP, recording gains in seven out of twelve years. The average return for July is +10.2%, and the median return is +10.8%, making it one of XRP’s stronger months.
XRP’s Most Promising Months
Meanwhile, the most promising months for XRP Price have been November and December.
In November 2013 and 2014, XRP posted massive returns of +130% and +531%, respectively. Similar surges occurred in November 2020 and 2024, with gains of +178% and +281%.
In December, XRP saw a 118% gain in 2014, and an extraordinary 819% gain in 2017. Other months that have shown occasional strong performances include March and April.
While XRP’s historical performance in August and September may not appear promising, some analysts believe this time could be different. One analyst even suggested that XRP could overtake Ethereum by September.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
