XRP Price Historical Data Suggests Substantial Q4 Rally Possible
October 03 2023 - 6:18PM
NEWSBTC
XRP price might have struggled to leave the $0.50 range over the
last several months, even despite a victory in Ripple’s case with
the SEC. But all that could change in Q4 2023, as the fourth
quarter of the year is historically the most bullish for the
altcoin. With this in mind, let’s dig into the data and see
how Q4 stacks up against the historical performance of other
quarters of the year. Plus, we’ll pin-point precisely which month
is by far the most bullish of them all. Q4 Performance Is The
Best Historically For XRP Price XRP price at the moment is trading
at around $0.51 after a fierce rejection following Ripple’s big win
in the case against the SEC. The altcoin was promptly relisted on
top cryptocurrency exchanges, but it hasn’t led to the demand
necessary to sustain higher prices. Related Reading: Select
XRP Price Prediction for 2023, 2024, 2025, 2030 and Beyond XRP
Price Prediction for 2023, 2024, 2025, 2030 and Beyond But that
could change soon, now that Q3 is over and Q4 is here. The
cryptocurrency is coming out of its worst quarter on average, so
lack of performance isn’t too surprising. Q4, however, according to
historical averages in performance across all quarters, is by far
the most substantial. Q4 on average has provided an average
of 30% ROI. Right behind it is Q2, posting roughly 22% ROI. Q1
averages a modest 13%, while Q3 comes in last with only 6% on
average. There’s no guarantee this data will translate into returns
during this last quarter of the year, but seasonality and serial
correlation are common in finance and cryptocurrencies. Why
It Could Take Til December For The Bull Run To Begin Unfortunately,
October isn’t the beginning of a massive bull run the previous text
makes it sound. While the data doesn’t lie — XRP price performs the
best historically in Q4 on average, but Q4 represents October
through the end of December. On a month-by-month basis,
October is actually the third worst month on average. If the same
positive seasonality in XRP were to follow along the data’s
projections accurately, then it would also suggest that October
might be another month of pain and sideways for investors. At
an almost 12% gain in November on average compared to October’s
1.5% average decline, the second to last month of the year will
turn things green. But even November isn’t quite the relief XRP
holders would hope for. Related Reading: Bitcoin, XRP, &
Ethereum: Three Top Coins On Brink Of Golden Cross That doesn’t
arrive until December, which is by far and away the best month on
average for XRP, with an 80% ROI on average. The one caveat, is
that the majority of the returns occurred during the 2017 bull
market, potentially skewing the results. Removing the outlier from
the data would almost certainly change the results significantly.
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