In an unexpected twist, XRP, the digital currency intricately linked with fintech company Ripple, saw a robust 8.14% surge at the beginning of this week. It concluded the day at an impressive $0.7149. This notable increase in value...
In an unexpected twist, XRP, the digital currency intricately linked with fintech company Ripple, saw a robust 8.14% surge at the beginning of this week. It concluded the day at an impressive $0.7149. This notable increase in value was the result of investor optimism regarding the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). But can XRP continue this uptick throughout this month?
XRP in November
When we scrutinize XRP’s historical performance in the month of November, it reveals intriguing insights. The average monthly return for the altcoin in November has been an astonishing 77.3%. However, adopting a more conservative estimate, the median monthly return stands at approximately -10.2%.
A more in-depth exploration of XRP’s price history over the past five years yields a mixed array of signals. Over this period, only one November, specifically in 2020, generated notably positive results. During that month, XRP witnessed a remarkable 178.3% surge. This further served as a reminder of the cryptocurrency’s potential for rapid and substantial gains.
On the subsequent Tuesday, XRP continued to display its bullish momentum, trading at $0.6942 with a noteworthy 4% daily surge. This is indicative of the increasing confidence among traders who see promise in this digital asset.
Also Read: Ripple (XRP) Spikes Over 11% to Become Top-Performing Major Crypto
XRP to register only double-digit gains in November
Also Read: What Can 10K, 50K & 100K XRP Holders Expect at $5, $10 & $50?