As October is now coming to an end, the cryptocurrency market has already started to share its predictions about what November may bring. All eyes are on one of the market’s most popular digital assets, which had a surprising performance in October. XRP on the token.
Boasting an impressive gain of 6.97%, XRP has defied the typical October history, which usually sees declines around the average of -4.36% and the median of -0.62%. Interestingly, October this year was the third most profitable month for the asset since its inception in 2013.
Looking back at November, data from the CryptoRank portal reveals that XRP has shown a promising trend in recent years. In the last decade, in November altcoin The average return on investments made for was an impressive 77.3%.
However, it is noteworthy that the median statistic, which is a more reliable measure, indicates a less optimistic figure of -10.2%. The significant difference between the average and median returns is estimated to be mainly due to several strong increases in the price of XRP in 2013, 2014, and 2020.
Despite the overall positive outlook, XRP’s history in November shows a rather mixed performance. Over the last 10 years, the altcoin only gained 4-6 points in favor of loss-making Novembers in 2013, 2014, 2017 and 2020.
However, as observed in October, XRP has shown the capacity to defy historical price predictions. Given the inherent volatility of the cryptocurrency market and the token’s history of surprising swings, it will be interesting to see whether the bulls can maintain and potentially tip the balance in favor of a profitable month for the altcoin.