Crypto
XRP Price Stuck in August Limbo Amid Lack of Catalysts
The XRP price has been stuck in a flat stretch since late June, and August is expected to be just as uneventful. The month averages a return of only 0.43%, with XRP closing lower for four consecutive years.
This comes after July, which typically sees an average gain of about 10%. However, this year's July was unusually quiet, with XRP gaining only 2% and trading at $1.06 by the end of the month.
The Fed's rate decision has been pushed to September, along with the Senate's vote on the CLARITY Act. This leaves little to move the price in August, except for a potential catalyst from the Jackson Hole meeting or a hot inflation report on August 12.