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$XRP kicked off July with a strong price rally, surging by over 13% in just three days, a trend that has sparked renewed optimism among investors across the crypto ecosystem.
While July has marked one of $XRP's stronger periods over the past years, its ongoing rally suggests that history might be set to repeat itself this year.
$XRP may extend July's seven-year profit streak
Historic data showcased by CryptoRank shows that July has consistently been a favorable month for $XRP, and the trend appears to be extending into this year.
Over the past seven years, $XRP has continued to close the month with massive positive returns, building a pattern that market analysts have increasingly paid attention to.
In addition to this, the data further showed that $XRP's average returns for July since it launched in 2013 stand at about 10.4%, positioning the month among its stronger-performing periods year over year.
Notably, several years have delivered substantial gains in July, including returns above 30% seen in the last two years and even a surge exceeding 48% in 2020, when the impressive gaining streak started.
$XRP up 13% in three days
While $XRP is currently witnessing a rapid price rally, surging from a low of around $1.03 to near $1.18 in just about three days, analysts are beginning to predict that the rebound is beyond just another short-term move.
Instead of the usual frenzy around short-term price moves, the ongoing rally has sparked excitement and optimism, as many perceive it as proof that $XRP is headed for a major price breakout this month after surviving the downside pressure caused by the prolonged volatility seen in previous months.