XRP kicked off July with a strong price rally, surging by over 13% in just three days, a trend that has sparked renewed optimism among investors across the crypto ecosystem.
While July has marked one of XRP's stronger periods over the past years, its ongoing rally suggests that history might be set to repeat itself this year.
XRP may extend July's seven-year profit streak
Historic data showcased by CryptoRank shows that July has consistently been a favorable month for XRP, and the trend appears to be extending into this year.
Over the past seven years, XRP has continued to close the month with massive positive returns, building a pattern that market analysts have increasingly paid attention to.
In addition to this, the data further showed that XRP's average returns for July since it launched in 2013 stand at about 10.4%, positioning the month among its stronger-performing periods year over year.
Notably, several years have delivered substantial gains in July, including returns above 30% seen in the last two years and even a surge exceeding 48% in 2020, when the impressive gaining streak started.
XRP up 13% in three days
While XRP is currently witnessing a rapid price rally, surging from a low of around $1.03 to near $1.18 in just about three days, analysts are beginning to predict that the rebound is beyond just another short-term move.
Instead of the usual frenzy around short-term price moves, the ongoing rally has sparked excitement and optimism, as many perceive it as proof that XRP is headed for a major price breakout this month after surviving the downside pressure caused by the prolonged volatility seen in previous months.
Dan Burgin
U.Today Editorial Team
