There may be volatility in June for the well-known cryptocurrency XRP, which had a 7% increase in value in May. To the dismay of investors anticipating more substantial price movements, XRP rose beyond the crucial psychological threshold of $0.5 last month and remained stable.
June might not provide the same favourable returns even if May’s performance was in line with the token’s historical average gain of 27.7%.
The first month of summer has not historically been good for XRP. The historical average return for June is -5.59%, while the median return is -8.92%, spanning over a decade. This points to a possible decline in XRP for the upcoming month. The last successful June for XRP was in 2017, and all following Junes have concluded with losses of at least 8.15%, according to CryptoRank.
Despite the volatility of the cryptocurrency market, the historical data for XRP is noteworthy because it is among the oldest coins available. Given historical trends, investors should exercise caution since there is a significant likelihood of negative returns in June.
The less bullish view for June stands in sharp contrast to the stability that XRP demonstrated in May, even in the absence of significant swings. Bulls in XRP could be disappointed if past patterns hold true since the coin may experience a drop in value.
The market is still awaiting the outcomes, thus there are doubts about how reliable the XRP price history is. It remains to be seen if previous trends will hold true in June, but the data indicates that investors expecting returns in the first month of summer ought to exercise caution.
