XRP has dropped below $3 in the past 24 hours, losing over 4% in a sharp drop. This might be seen as a small drop, but it might be setting up to repeat its usual February slump.
Historically, February is not often a decent month for XRP. According to Cryptorank , February is typically a tough month, with an average return of -3.00%.
The coin has only given positive returns four times since 2014, with the best performance being a 26.3% gain in 2022. Other positive years were 2016, 2019, and 2024, but the gains were much smaller at 23.8%, 1.13%, and 17.1%, respectively. On the flip side, XRP has had some major losses, including a 33.4% drop in 2014.
While the past doesn’t look great, there’s still hope for XRP. Most of the yearly losses were under 10%, so any sell-off this month might not be as big a problem as some fear. The past trends point to a 3% loss, but there’s always a chance that February could surprise us with a positive result.
Traders are looking to see if XRP can flip the script this time. The overall performance of the crypto market seems promising, especially with the U.S. government being more friendly to crypto.
In addition, Ripple’s planned move to join the U.S. crypto strategic reserve could make a big difference in its fortunes. With approval, demand for XRP could rise, driving its price towards $4.
At this point, XRP is worth $2.98, down 3.69% in value over a 24-hour period, with its trading value at $4.46 billion, down 4.59% in trading value.
Also Read: Kraken to Delist 4 Stablecoins, Including USDT Next Month
