Advertisement
AD

Main navigation

XRP Defies October Norms With Surprising Surge: Here's What to Expect in November

Advertisement
Fri, 27/10/2023 - 11:04
XRP Defies October Norms With Surprising Surge: Here's What to Expect in November
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

As October draws to a close, the crypto space is abuzz with anticipation over what November may bring. All eyes are on XRP, one of the market's most popular digital assets, which has just wrapped up an astonishing performance in October.

Advertisement

Related
Ripple Moves Millions of XRP to These Exchanges, Here's What's Remarkable

Surging ahead with an impressive gain of 6.97%, XRP has defied its typical October history, which usually sees declines averaging around -4.36% and a median of -0.62%. Interestingly, this year's October marked the third most profitable month for XRP since its inception in 2013.

""
XRP to USD by CoinMarketCap

Looking ahead to November, data from the CryptoRank portal reveals that XRP has shown a promising trend in recent years. Over the past decade, the average return on investments for XRP in November stands at an impressive 77.3%.

Unpredictable month

However, it is essential to note that the median statistic, which is a more reliable measure, points to a less optimistic figure of -10.2%. The significant variance between the average and median returns is mainly attributed to a few extraordinary spikes in XRP's price in 2013, 2014 and 2020.

""
XRP Monthly Returns by CryptoRank

Despite the overall positive outlook, the history of XRP in November has been mixed. Out of the last 10 years, XRP concluded the month in the green only in 2013, 2014, 2017 and 2020, leaving it with a score of 4-6 in favor of loss-making Novembers.

Related
Elon Musk's Tweet Raises Questions from XRP and SHIB Armies

Nonetheless, as observed in October, XRP has demonstrated its capacity to defy historical price predictions. With the cryptocurrency market's inherent volatility and the token's track record of surprising surges, it will be interesting to see if the bulls will be able to maintain and potentially tip the balance in favor of a profitable month for XRP.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles