XRP Seeks End to Four-Year Losing Streak in August

Ripple's XRP token has been experiencing a prolonged decline since 2021, but recent statistics suggest it may be poised for a bullish breakout. The last time XRP closed in the green at the end of summer was in 2021, and the past four Augusts have been marked by losses.

However, data from CryptoRank shows that August is not the worst month on record for XRP, with an average return of +0.43%. The main issue lies in its four-year losing streak, which bulls are determined to break.

The third quarter has historically been a strong period for XRP's recovery, with an average return of +17% and a median of +25.8%. This year, Q3 returns have already moved into positive territory at +2.10%, thanks in part to July's 1.91% gain.

XRP is currently trading near the lower boundary of its local support range at approximately $1.05-$1.06. A breakout above the upper boundary of its descending trend, around $1.20-$1.25, could open the way for a full-scale rally.