With the eighth month of the year almost behind us it is worth exploring what really took place as it turned out to be among the most eventful ones especially when it comes to price pumps.
Ripple’s XRP was no exception as it rode the mid-month wave hard surging from $1.00 to $1.70 within days before it was eventually stopped. History didn’t see this coming but what does it say about September?
August’s Mysterious Pumps 😈
CryptoPotato reported at the start of the month that August was not a particularly optimistic period for XRP. After July which is actually quite bullish for the token it entered August having closed all four previous editions in the red. Some of the losses as in 2022 and 2023 were in the double digits.
As such there were no high hopes for the 2026 edition. Its start was quite sluggish. XRP kept losing value and eventually dipped below $1.00 on a couple of occasions for the first time in almost two years.
However the bulls reacted in a remarkable manner. Fueled by the overall market resurgence the return of ETF inflows and reaccumulating whales XRP bounced hard from that key psychological level and skyrocketed by 70% within less than 72 hours between August 19 and August 22 to a multi-month peak of $1.70 🖤.
Although it was stopped there and the month is not officially over yet XRP remains up by around 33% so far in August according to data from CryptoRank.
Unless a major cataclysm takes place in the next 36 hours or so XRP is primed to enter September in a considerably stronger position than it went into August 📈.
September’s Potential Twists 🌙
Unlike August the past four Septembers have all been in the green for XRP. Admittedly the one in 2023 brought a minor increase of 0.42% while last year saw a jump of 2.5%. However the ones in 2018 2016 and all the way back in 2013 were significantly more bullish with gains of 73% 47% and 94.4% respectively. 2022 was also highly impressive with a surge of over 46% 🦇.
As popular analyst EGRAG CRYPTO recently outlined Septembers in even years were substantially more bullish for the asset. In addition he said that whenever August was in the green September followed suit 66.7% of the time. In contrast almost 86% of subsequent Septembers were in the red following such an August 💎.
View EGRAG CRYPTO’s tweet on X
With the August recess almost over in the U.S. Senate all eyes will return to the CLARITY Act in September. After failing to advance the key crypto legislation the Senate is expected to revisit it as soon as September 15. XRP has been heavily influenced by the developments on the bill front and a positive turnaround could lead to another leg up and vice versa 🕸️ 🌀 😈.
Just another echo from the void by iconofsin.eth 💖