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XRP August is coming to an end. Looking back at this month full of variables, especially the surge in prices, it is worth exploring.
Ripple (XRP) is no exception. It rose strongly in mid-August, soaring from $1.00 to $1.70 in just a few days before stopping its gains. History did not expect this trend, but what does it mean for September?
Glorious August
At the beginning of the month, the market was not optimistic about XRP's August performance. After experiencing a positive market in July, XRP had closed down for four consecutive years when it entered August. Some of the declines even reached double digits, such as 2022 and 2023. Therefore, people's expectations for August 2026 are not high. The trend was indeed weak at first. XRP continued to fall and even fell below the US$1.00 mark at one point, the first time in nearly two years.
However, the bulls quickly fought back. Driven by the overall market recovery, the return of ETF funds and the reaccumulation of whales, XRP rebounded strongly from this key psychological level, surging 70% in less than 72 hours from August 19 to 22, hitting a multi-month high of $1.70. Although the rally was blocked here (and August has not officially ended), according to data, XRP has risen about 33% so far in August.
Unless a major emergency occurs within the next 36 hours, XRP will enter September on a more solid foundation than it will enter August.
What happens next?
Unlike August, XRP has increased in the past four September months. It is true that the increase was only slightly 0.42% in September 2023, compared with the increase of 2.5% in September last year. But the earlier increases in 2018, 2016 and September 2013 were even more alarming, reaching 73%, 47% and 94.4% respectively. September 2022 was also eye-catching, with an increase of more than 46%.
According to well-known analysts recently, September in even-numbered years is more favorable to XRP. In addition, he mentioned that whenever August closes up, there is a 66.7% probability that September will also follow. In contrast, after closing down in August, there is a nearly 86% probability of closing down in September.
As the U.S. Senate's August recess comes to an end, market attention will be refocused on the progress of the CLARITY Act in September. After failing to advance this key cryptocurrency legislation, the Senate is expected to reconsider the bill as early as September 15. XRP has been deeply affected by the progress of the bill, and a positive turnaround may push it further; and vice versa.
