XRP's Volatility Plummets to Three-Month Low Amid Steady Price Action
XRP's price action has been steady around $1.0 in recent times, drawing attention from market analysts who are wondering about its next move.
According to onchain data, XRP is currently trading through one of its quietest periods in recent months, with its realized volatility on Binance dropping to a three-month low.
The 30-day realized volatility has fallen to around 0.34 as of Wednesday, August 5, indicating a quieter market for XRP.
This decrease in volatility comes after a price decrease of about 1.68% over the last day, and it's worth noting that a drop in volatility does not necessarily indicate whether prices will move higher or lower.
Historical data shows that August has been a challenging month for XRP, with consistently negative price returns logged over the past years.