In the last 24 hours, XRP has plunged below the critical $3 level, losing more than 10 cents in its free fall. The sharp decline might signal that XRP could repeat its history in February.
Historical Trends: February Weakness
According to Cryptorank, XRP has an average monthly return of -3.00% for February. Since 2014, XRP has only finished in the green four times, with the highest percentage return in 2022, when it registered a 26.3% increase in value. The other three years of positive performances were in 2016, 2019, and 2024, with returns of 23.8%, 1.13%, and 17.1%, respectively. Conversely, XRP performed poorly in 2014, with a 33.4% decline. Aside from 2017, 2018, and 2021, with a negative growth of 12.3%, 22.1%, and 14.8% respectively, all other declines were below 10%.
Can XRP Reverse Course?
Ripple's inclusion in the proposed U.S. crypto strategic reserve, if it scales through, could transform the price outlook in a flash. This could drive up demand for XRP and increase its value, pushing it to test the $4 mark. Brad Garlinghouse, Ripple’s CEO, recently stated that the company was pushing for inclusion in line with the current administration's interest in supporting American tech organizations. However, critics see this narrative as largely self-serving.
Current Market Situation
As of this writing, XRP was trading at $2.98, a 3.69% decline in the last 24 hours. As investors slow down on market activities, the trading volume has dipped by 4.59% to $4.46 billion.
Despite historical February weakness and the recent drop, analysts do not rule out the possibility of a positive outcome for XRP this month.
