After closing March with a greater 40% increase, the XRP price fell somewhat in April. At the same time, historical evidence implies that the significant price activity for XRP will occur in the fourth month of the year. It is likely to be favorable based just on previous periods.
Since 2014, for example, the XRP price has changed by double digits six out of nine times in April. Only 2015, 2016, and 2019 are exempt. Every other year, the XRP price has surged or plummeted at the same rate. As a result, with an average price change of plus 32.1%, April is one of the four greatest months of the year for cryptocurrencies.
Source: CryptoRank
As we all know, the price of cryptocurrencies frequently outpaces upcoming events, and when the news finally arrives, the selling begins. If we rely on raw numbers and anticipate another positive April for XRP, we should wait for some action to explain such a price movement. A “sell the news” event could be, for example, the outcome of the SEC litigation against Ripple, which CEO Brad Garlinghouse predicted back in March.
Looking at the table supplied by CryptoRank, we can see that spring is often a beneficial season for XRP. Even though there are instances, such as March 2022, when XRP managed to close on the positive side, with the average rise in the XRP price during those three months being 28.5%.
In another development, with the recent rising moves, market whales have made significant swings in XRP. It is fairly uncommon for whales and even retail investors to sell their holdings after earning tiny gains during a well-defined advance.
🚨 20,000,000 #XRP (10,082,478 USD) transferred from unknown wallet to #Bitstamphttps://t.co/P8XVoR2NSm
— Whale Alert (@whale_alert) April 4, 2023
According to Whale Alert, millions of XRP have changed hands in the last 24 hours. One of the transactions involved the exchange of 98,697,364 XRP valued at more than $50 million from two undisclosed wallets a few hours ago.
Similarly, approximately 20 million XRP tokens have been transferred from an unknown wallet to Bitstamp, raising concerns about the objectives behind this financial transfer.
Read more:
- Will XRP Be Easily Superseded By Dogecoin (DOGE)?
- XRP Trading Volume Soars On Korean Exchanges As Traders Bet On Ripple’s Victory Against SEC
- Does The XRP Price Have Enough Power To Keep Growing?