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As October comes to a close, the crypto space is abuzz with anticipation about what November may bring. All eyes are on XRP, one of the most popular digital assets on the market, which just delivered a surprising performance in October.
Advancing with an impressive 6.97% gain, XRP has defied its typical October story, which typically sees declines with an average of around -4.36% and a median of -0.62%. Interestingly, October this year marked the third most profitable month for XRP since its inception in 2013.
Looking ahead to November, data from the CryptoRank portal reveals that XRP has shown a promising trend in recent years. Over the past decade, the average return on XRP investments in November reached an impressive 77.3%.
Unpredictable month
However, it is essential to note that the median statistic, which is a more reliable measure, points to a less optimistic figure of -10.2%. The significant variation between the average and median returns is mainly attributed to some extraordinary spikes in the price of XRP in 2013, 2014, and 2020.
Despite the overall positive outlook, XRP’s story in November has been mixed. Of the last 10 years, XRP concluded the month in the green only in 2013, 2014, 2017 and 2020, leaving it with a score of 4-6 in favor of losing Novembers.
However, as seen in October, XRP has demonstrated its ability to defy historical price predictions. With the inherent volatility of the cryptocurrency market and the token’s history of surprising rises, it will be interesting to see if the bulls will be able to maintain and potentially tip the scales in favor of a profitable month for XRP.
