After a bearish slump over a few weeks, Ripple XRP is back in the green and has more room to grow according to historical trends. At press time, XRP is up 4% in the last 24 hours and 8% in the past week, trading at $0.6498. With analysts expecting this rebound as March comes to a close, all eyes are on how Ripple XRP will perform in April.
Based on XRP’s historical performance around this time in the past, some holders expect as much as a 30% surge in April. According to data from CryptoRank, April historically brings good for XRP, with an average monthly return of 31%. With next month also featuring the Bitcoin Halving, XRP is expected to join all cryptocurrencies in receiving a notable pump from BTC as well.
Looking back at XRP’s price history reveals a mixed but predominantly positive outlook. While April 2022 and April 2023 witnessed declines in XRP’s value, the years 2019, 2020 and 2021 brought significant gains. Notably, 2021 recorded a notable 174.1% increase in the XRP price during April. 2021 of course was the year of a massive boom in cryptocurrency assets before their crash not long after.
Also Read: Ripple: How High Can XRP Rise In April 2024?
XRP Climbs In March, Will It Do The Same In April?
XRP has already demonstrated an ability to climb earlier in March, riding the most recent crypto surge. Some analysts project that with the next surge, the asset may even rise back toward the $1 mark, a number not seen beside XRP in some time. XRP would have to climb over 50% from now to achieve this though, which will be difficult.
On the other hand, recent developments within RippleX, Ripple’s development arm, have highlighted technical hurdles that may impact XRP’s performance. Some expect these growing issues to hamper XRP’s growth in the upcoming month. However, if history remains supreme, XRP can likely ignore these developments and continue a surge from now through April.