The XRP market is abuzz this September, as historical data suggests a favorable outlook for the altcoin’s price. With average monthly returns hinting at double-digit gains, XRP enthusiasts are eyeing the possibility of reclaiming the crucial $3 level—a psychological milestone for traders and investors alike.
September’s Historical Performance
According to data from Cryptorank, XRP has historically enjoyed a 13.8% average monthly return in September. This promising figure, coupled with the fact that XRP has closed the last three Septembers in the green, sets the stage for potentially significant gains. The standout performance was in September 2022 when XRP surged by an impressive 46.2%. Fast forward to this year, and the altcoin has already posted a nearly 3% increase as we enter the first week of September.
Catalysts for a Bullish Run
Several bullish fundamentals may fuel XRP’s upward trajectory. A key factor is the anticipated 25 basis points rate cut by the Federal Reserve, expected to be announced at the September 17 FOMC meeting. This potential rate cut—predicted with 99.7% certainty by CME FedWatch—could foster a risk-on sentiment, encouraging liquidity to flow into altcoins like XRP.
Moreover, the cryptocurrency community is buzzing with anticipation over the possible approval of XRP ETFs by the SEC in October. This approval could catalyze a surge in capital inflows into the XRP ecosystem, driving prices higher in expectation of these developments. As explored in our recent coverage of the crypto ETF surge, such financial products could reshape the market landscape, though not all may succeed.
Projections and Market Dynamics
Crypto analyst Egrag Crypto has shared a bold prediction: XRP might rally to approximately $3.40. With the altcoin currently hovering around $2.877, market participants are closely watching its behavior near this price point. A strong close above $3.077 could bolster the likelihood of surpassing the $3.40 threshold.
Intriguingly, Egrag Crypto posits that if XRP breaches the $3.40 mark, it might even soar over 200% to reach $6.12. His analysis, presented in a chart on X, suggests that this leap could unfold within the month. The critical range of $3.077 to $3.13 is highlighted as a pivotal zone, with a strong close backed by high volume potentially paving the way for further upward movement.
Broader Implications and Skepticism
While optimism reigns, skeptics raise valid points about the sustainability of such bullish trends. The cryptocurrency market is notoriously volatile, and sudden shifts in investor sentiment or external economic factors could derail the anticipated rally. Additionally, regulatory developments, particularly regarding the SEC’s decision on XRP ETFs, could swing the market in unforeseen directions. Notably, our report on Japanese gaming giant’s investment highlights how strategic capital injections can significantly impact XRP’s market dynamics.
As of now, XRP trades at approximately $2.85, showing a modest increase over the past 24 hours, according to CoinMarketCap. Whether the altcoin can sustain and build on this momentum remains to be seen, as market participants keenly await the unfolding of these events.
In conclusion, while the stars seem aligned for XRP to make a notable ascent this September, the complex interplay of market dynamics, regulatory factors, and investor sentiment will ultimately dictate the trajectory. For now, XRP holders and traders watch with bated breath—poised for potential gains but mindful of the inherent uncertainties.
Source
This article is based on: Average Monthly Returns Says XRP Price Could Fly High In September
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
