XRP’s February Fiasco: Will History Repeat or Rewrite Itself?

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Well, well, well, look who’s back in the gutter! 🎭 In the last 24 hours, XRP decided to take a nosedive below the oh-so-critical $3 level, shedding more than 10 cents like it’s auditioning for a role in “The Great Crypto Crash of 2024.” 📉 This dramatic free fall might just be a rerun of its February flops. Because, you know, XRP and February? It’s like a bad rom-com—always ends in tears. 😭

February: The Month XRP Loves to Hate

According to the wise folks at Cryptorank, XRP has an average monthly return of -3.00% in February. That’s right, folks, it’s like clockwork! 🕰️ Since 2014, XRP has only managed to finish in the green four times. Four. Times. 🍀 The highlight? 2022, when it somehow pulled off a 26.3% increase. Miracles do happen! 🙏

The other three years of “success” were 2016, 2019, and 2024, with returns of 23.8%, 1.13%, and 17.1%, respectively. But let’s not forget the disasters: 2014’s 33.4% plummet, 2017’s 12.3% nosedive, 2018’s 22.1% crash, and 2021’s 14.8% faceplant. 🪂💥

But hey, market observers are all, “This is fine! 🔥” They think any sell-off won’t hurt XRP too much. Sure, history says there’s a 3% loss on average, but maybe, just maybe, XRP will defy the odds and end February in the green. Or maybe pigs will fly. 🐷✈️

Analysts are pointing to the broader crypto market, which is apparently pro-crypto now. Thanks, U.S. administration! 🎉

Can XRP Pull a Rabbit Out of Its Hat?

Here’s the plot twist: Ripple is trying to get XRP included in the proposed U.S. crypto strategic reserve. If that happens, boom! 💥 Demand could skyrocket, and XRP might even test the $4 mark. 🚀

Brad Garlinghouse, Ripple’s CEO, is all, “We’re just supporting American tech!” Critics, however, are rolling their eyes and calling it self-serving. 🙄

As of this writing, XRP is trading at $2.98, down 3.69% in the last 24 hours. Trading volume has also dipped by 4.59% to $4.46 billion. Investors are clearly taking a breather. Or maybe they’re just binge-watching XRP’s drama unfold. 🍿

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2025-02-01 17:54