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Crypto enthusiasts holding onto XRP should brace themselves for a potentially tumultuous February as historical data suggests a challenging month for the popular token.
According to CryptoRank's XRP price history, the first month of 2024 is likely to conclude with a double-digit percentage loss, aligning with the median return on investment for all Januarys since 2014 at -12.4%.
With just a week left in the month, XRP investors may be eager to understand what lies ahead in February. Predicting outcomes in the volatile crypto market is a formidable task, but historical patterns provide some insight.
Thus, over the last decade, XRP has displayed predominantly negative dynamics in the second month of the year. The average profitability stands at -5.15%, with an even lower fair median value of -8.12%.
The last time XRP experienced a profitable February was in 2022, witnessing a notable 26.3% surge in quotes by month's end. Prior to that, 2016 was the only other year with a positive outcome of such magnitude. The remaining Februarys, barring a meager 1.13% gain in 2019, resulted in losses for XRP and its investors.
Is it worth holding?
Given these historical trends, XRP holders are urged to carefully consider their investment decisions. Despite enduring significant losses since the beginning of 2024, the upcoming month could exacerbate the situation.
As the end of January approaches, XRP investors find themselves on high alert, carefully evaluating the historical signals that point toward a potentially turbulent February for the popular cryptocurrency.
Vladislav Sopov
Denys Serhiichuk
