Ripple price outlook: What does history say about XRP’s June performance?

Ripple’s XRP capitalized on broad market bullishness in May to surpass the resistance at $0.5 following a 5% price increase.

While the remittance token displayed stability within the past 30 days, historical data indicate potential pain for investors in June.

XRP has battled bearishness during June over the past decade, with -5.59% in average ROI.

Moreover, the median return has been worse at around 9%. CryptoRank data shows Ripple investors have seen consistent losses in June since 2017.

Source – CryptoRank

While the crypto market remains volatile, XRP statistics appear pretty concrete. Thus, enthusiasts can brace for potential losses in the upcoming month.

XRP price outlook

The alt changed hands at $0.5155 at press time, losing 1.80% over the past day.

XRP steadies above the vital support zone of $0.50, magnifying bullish signals for the cross-border payments assets.

The 4H chart revealed a green candlestick, presenting an opportunity for executing longs.

Also, the Relative Strength Index highlights a potential bullish rebound.

Nevertheless, the region between the $0.51 support and $0.53 resistance could shape XRP’s near-term trajectory.

While the green 4H candle reflects buyer edge, XRP should flip all three EMAs to support barriers for sustained upswings.

Flipping the Exponential Moving Averages to support levels would favor golden cross setups. Nonetheless, a solid resistance at $0.54 awaits upon overcoming $0.53.

XRP failed to cross the $0.54 hurdle over the past day, triggering the ongoing sideways price movements.

Meanwhile, XRP still hovers beneath the 20-, 50-, and 200-day Exponential Moving Averages, signaling bearishness.

Ripple’s native token appears susceptible to declines in the upcoming sessions.

Only a decisive closing beyond $0.56 could invalidate the prevailing weakness. Bullish SEC developments and the potential Ripple ETFs approval could trigger solid recoveries towards the long-term target of $1.

The post Ripple price outlook: What does history say about XRP’s June performance? appeared first on Invezz