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After a triumphant July that saw <a href="https://u.today/ripple-v-sec-case-unrevealed-xrp-memo-put-into-spotlight-by-legal-analyst" rel="noopener noreferrer nofollow">Ripple's legal battle with the SEC</a> culminate in a pivotal court ruling affirming XRP's nonsecurity status, the digital asset soared by an impressive 47.6%. The anticipation was palpable as enthusiasts wondered whether XRP could sustain its meteoric rise into August, setting a new precedent. 
However, an unexpected twist is now threatening to paint a different picture. 
In contrast to its record-breaking performance last month, XRP finds itself on the brink of a historic downturn in August 2023. The token, which celebrated its second-best July ever in terms of pricing, faces the possibility of recording its worst August performance to date. <a href="https://cryptorank.io/price/ripple" rel="noopener noreferrer nofollow">CryptoRank</a> data warns of a looming 25.4% price drop for this month, surpassing the previous record set back in August 2018, when XRP experienced a 23% monthly plunge. 
<img alt data-entity-type="file" data-entity-uuid="288a5a49-3be8-4204-9791-37e629fc51eb" src="https://u.today/sites/default/files/inline-images/f2ea05bfdf712e0a8830e03a.png">XRP monthly returns by <a href="https://cryptorank.io/price/ripple" rel="noopener noreferrer nofollow">CryptoRank</a> 
Adding to the woes, XRP's market capitalization has already tumbled by a substantial $10 billion since the month's commencement, currently resting at a total of $27.49 billion. As the month draws to a close, the question of whether <a href="https://u.today/new-xrp-token-xrp-unleashed-as-part-of-smart-contract-revolution-on-xrpl" rel="noopener noreferrer nofollow">XRP</a> can evade renewing its unfortunate August record becomes a focal point of intrigue surrounding the token. 
<img alt data-entity-type="file" data-entity-uuid="29b0eac4-eb12-4f4d-a2b6-e42499d6e257" src="https://u.today/sites/default/files/inline-images/XRP_1M_graph_coinmarketcap_0.jpeg">XRP&nbsp;market cap to USD by <a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">CoinMarketCap</a> 
Turning an eye toward September, historical data indicates that XRP has frequently concluded the first month of fall with negative returns, ranging from -1% to a staggering -30% back in 2015. However, the previous September showcased an outlier: 2022 saw the <a href="https://u.today/almost-billion-xrp-withdrawn-from-crypto-exchange-in-past-two-days-price-drops-234" rel="noopener noreferrer nofollow">XRP price</a> surging by an impressive 46.2%, defying expectations and ending the month on a high note.

XRP About to Set Historic Record in August, But There's a Catch

U_Today

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