United

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p dir="ltr">XRP is on a path to breaking a major historical record despite the seemingly visible slow growth many believe it has inked in the past few weeks. Unlike its peers, XRP has only managed to&nbsp;<a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">grow by 5.05%</a> in 24 hours to $0.58. Amid this mild uptick, the coin has not surpassed the $0.6 price point, a level considered a pivotal point for it to chart new growth trends.</p>
<h2 id="xrp-history-set-to-be-broken">XRP history set to be broken</h2>
<p dir="ltr">Throughout its history, the month of February has mostly ended up in losses for XRP. In fact, data from Cryptorank&nbsp;<a href="https://cryptorank.io/price/ripple/analytics" rel="noopener noreferrer nofollow">shows</a> that over the past 10 years, XRP has only positively closed February just three times.</p>
<p dir="ltr">These include the 23.8% close in 2016, 1.13% in 2019 and 26.3% in 2022. With more months ending in losses, the average growth of XRP for February is in the negative, dropping as low as a 3.29% slump. The median growth rate is also down by 7.23%.&nbsp;</p> <img data-entity-type="file" data-entity-uuid="45a21f18-7c44-4004-8e01-3f57295121ee" src="https://u.today/sites/default/files/inline-images/XRP%20Analysis.png"><a href="https://cryptorank-images.s3.eu-central-1.amazonaws.com/snapshots/649cfa4e0b5467dfb002e8d2.png" rel="noopener noreferrer nofollow">XRP Historical Analytics. Source Cryptorank</a>
<p dir="ltr">Per XRP’s current outlook, it might break the average and possibly the median growth rates if it can validate the 9% growth it has recorded in the month-to-date (MTD) period. Despite relatively slow growth, XRP bulls and retail holders may help the coin break the dormancy in its outlook month-on-month&nbsp;<a href="https://u.today/xrp-litecoin-ltc-see-21-million-inflow-boost-amid-market-boom" rel="noopener noreferrer nofollow">if the current momentum is sustained</a>.</p>
<h2 id="xrp-and-ecosystem-hype">XRP and ecosystem hype</h2>
<p dir="ltr">Though there is</p>
<p dir="ltr">&nbsp;limited or negative sentiment surrounding XRP drawing on the yet-to-be-resolved&nbsp;<a href="https://u.today/ripple-faces-new-sec-deadline-extension-request" rel="noopener noreferrer nofollow">lawsuit</a> between Ripple Labs Inc. and the United States Securities and Exchange Commission (SEC), XRP needs to lean on the broader ecosystem hype to achieve its short-term goals.</p>
<p>With Bitcoin's (BTC) price crossing the $58,000 benchmark amid a&nbsp;<a href="https://u.today/key-reasons-why-bitcoin-btc-price-just-soared-past-57000" rel="noopener noreferrer nofollow">sustained bullish ride</a>, the XRP correlation spells a positive omen for the cryptocurrency. This correlation might help the digital currency break the $0.6 barrier in the short term and possibly drive the price to a new pedestal.</p>

XRP Jumps 9% MTD, Is Major Historical Record in View?

Table of Contents

U_Today

Other articles published on Feb 28, 2024

DeeStream (DST) Hype Continues as Cardano (ADA) & Chainlink (LINK) Investors Spot Massive Potential

Bitcoin(BTC) Rally Sparks Injective’s Price Surge: Can INJ Hit New ATH? Here is Why This Crypto A...

Shiba Inu Burn Rockets 2000% As Community Burns 93 Mln SHIB, What’s Next?

SHIB Lead Shytoshi Kusama Ignites SHIB Army With Conspiracy Theory Tweet

Matrixport HK Aims for Legitimacy with Last-Minute Licensing Bid in Hong Kong

Terra Classic Revolutionizes with Tritium Bridge: A New Dawn for Cross-Chain Connectivity

Join our free newsletter for daily crypto updates!