XRP Price: Bearish June Ends Soon; Here’s How Much Profit You Can Make in Bullish July
Anjali Belgaumkar26 Jun 20242 min read
The XRP price took a nosedive, leaving a trail of red across the charts. Is this the end of the XRP dream or just a temporary setback? July might be a game-changer for XRP. Is this just a bump in the road or the start of something big? All these important questions were answered by analyst Cheeky Crypto.
As June, a notably bearish month, comes to an end, we can look forward to July. According to historical price data, July has been particularly bullish for XRP over the last four years. Since 2020, the minimum return on investment for XRP in July was 6.91%, with a maximum of 48.1%.
However, the analyst said that the previous five years before 2020 were less favorable, often ending in the red. As a result, the average return on investment for all Julys since XRP’s inception is 5.56%. The median, a more accurate indicator, signals an almost neutral gain of 0.07%. Thus, according to historical data, XRP is expected to at least hold its value in the coming month, if not grow.
The Ripple XRP price is a hot topic, and everyone’s looking for the next big move. With all these developments, what’s the Ripple XRP price target?
Looking at the XRP/USDT pair on the one-day Binance chart, he still sees a downward trend. The 200-day EMA is at $0.5426, the 50 EMA at $0.5062, and the 50-day SMA at $0.5074. Looking ahead, if XRP loses $0.4188, we may see further declines. However, if it holds, the coin could target the 200-day EMA for a potential rebound.
Other Big Developments
The XRP Ledger (XRPL) recently reached a major milestone as the amount of XRP locked in AMM pools surpassed 10 million. While the current total has dropped slightly to 9.6 million XRP, this development marks a big moment for the XRPL ecosystem.
