XRP's Year-End Pattern: Will It Outperform Bitcoin?
XRP's rebound against Bitcoin in August is not the only factor to consider when looking at its future performance. Analyst Egrag Crypto points out that the cryptocurrency follows a distinct pattern as the year-end approaches.
Historically, XRP rises by an average of 17% in September and then falls by an average of 19.6% in October. However, this sequence of moves matters more than simple averages, according to Egrag Crypto.
The analyst describes past patterns as a 'rotation' in September, a 'shakeout' in October, an 'expansion' in November, and 'additional acceleration' in December. If the pattern repeats itself this year, XRP could rebound against Bitcoin in September before facing renewed weakness in October.
Egrag Crypto notes that October has often been a period of weakness for XRP against Bitcoin, with 11 out of the past 13 Octobers ending lower. Nevertheless, sharp October drops have not immediately led to long-term weakness, as seen in the past when October declines were followed by strong rebounds in November.