XRP holders should prepare for what might be a turbulent February, as historical evidence points to a difficult month for the well-liked coin.
The price history of XRP on CryptoRank indicates that the first month of 2024 will probably end in a double-digit percentage loss, which is consistent with the median return on investment of -12.4% for all Januarys since 2014.
Investors in XRP might be curious about what’s in store for February with only one week remaining in the month. Although it is extremely difficult to predict results in the erratic cryptocurrency market, previous trends can offer some guidance.
Thus, in the second month of the year during the past ten years, XRP has primarily shown negative dynamics. With a respectable median value of -8.12%, the average profitability is considerably lower at -5.15%.
The last lucrative February for XRP was in 2022, when quotations saw a noteworthy 26.3% increase by the end of the month. The only other year with a result that was so favourable before then was 2016. With the exception of a pitiful 1.13% increase in 2019, XRP and its investors lost money in the following Februarys.
Is it worth holding?
Holders of XRP are advised to carefully analyse their investing selections in light of these historical tendencies. Even if they have suffered large losses since the start of 2024, the forthcoming month may make things worse.
Investors in XRP are keeping a close eye on past indications indicating a possibly stormy February for the well-known cryptocurrency, as the end of January draws near.
