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As the crypto market approaches the final stretch of 2023, all eyes are on XRP, as investors eagerly anticipate potential gains. According to data from the CryptoRank portal, the average monthly return for XRP in December is projected to soar to an impressive 82.7%.
If this prediction materializes, the price could be on the brink of reaching $1.1 per token.
However, a closer examination reveals a nuanced reality. Over the past five years, starting from 2018, December has proven to be a challenging month for XRP, with each year reporting negative returns.
The mildest setback occurred in 2018, with a 2.25% decline, while subsequent years witnessed double-digit price drops. Notably, 2020 recorded the most substantial loss, with the XRP price plummeting by a staggering 66.5%.
To provide a more balanced perspective, considering historical price trends, it is prudent to focus on the median statistic. The median suggests a 10.4% loss for the upcoming month, casting doubt on the optimistic 82.7% increase.
Will XRP rewrite its price history?
While historical data serves as a valuable guide, it is essential to acknowledge XRP's propensity to defy trends. The popular cryptocurrency showcased its exceptional performance in December 2017, experiencing an astonishing 820% surge in just one month.
As the crypto community eagerly awaits December's outcome, the XRP saga unfolds with a tantalizing mix of historical precedent and the unpredictable nature of digital assets, leaving investors on the edge of their seats.