The post XRP Price Set to Explode: Historic Trends Point to Massive Surge in April appeared first on Coinpedia Fintech News
After a successful run in March with a rise of over 40%, the XRP price entered April with a small dip. However, historical data suggests that the fourth month of the year is when the major price action for XRP should occur, and it is expected to be positive based on previous periods.
April: One of the Best Months for XRP
Since 2014, the XRP price has shown double-digit percentage price changes six out of nine times in April, making it one of the best months for the cryptocurrency, with an average price change of plus 32%. The only exceptions were 2015, 2016, and 2019.
Historically, we can see that spring is generally a favorable season for XRP. Despite some periods like March 2022, in which XRP even managed to close on the plus side, the average increase in the XRP price during those three months was 28.5%.
XRP’s Recent Performance
XRP has recovered from a downtrend in the 12-hour timeframe, giving sidelined investors an opportunity to buy the dip. At press time, the coin is valued at $0.49. If the price continues lower, the bears will again try to sink the price below the 20-day EMA ($0.47). If this level gives way, the coin may slide to $0.43.
On the other hand, if buyers thrust the price above the $0.56-to-$0.58 overhead zone, the pair may surge to $0.65 and then to $0.80. Although the slight rejection could be seen as a short-term correction before the next climb above the mentioned resistance area, $0.42 acts as critical support in the event of a sudden drop.