XRP Surges 30%, But September Awaits

Ripple's XRP token has had an unexpected turn of events in August. Historically, this month was one of its worst-performing months to date, but it bucked the trend with a 30% surge. The asset touched a multi-month high of $1.70 on August 19 after a massive surge led by Bitcoin.

This sudden change in fortune came despite XRP's lackluster performance in July, where it gained only 2.11%. Its August gains were not without their dips, however, with the asset slipping below the key psychological support of $1.00 on several occasions.

As September approaches, analysts are predicting that the month will be highly volatile, with some calling it XRP's 'most loaded month' in history. Several major events are lined up to take place this month, including the FOMC meeting and a vote on the CLARITY Act by the US Senate.