XRP Outperforms Other Top 10 Cryptocurrencies in November
A recent analysis of the historical performances of the top 10 cryptocurrencies by market cap has revealed that XRP is the best coin to invest in for November. According to data obtained from the CryptoRank website, XRP has shown an impressive performance trend, particularly in the month of November. This month has consistently presented ample opportunities for crypto investors, with XRP boasting the highest average returns among the top 10 coins.
In comparison to other leading cryptocurrencies, XRP’s average November returns sit at an impressive 70.1%. Bitcoin, on the other hand, has an average return of 46.9%, while Ethereum trails behind at a meager 0.91%. Cardano (ADA) comes closer to Bitcoin’s returns with an average of 43.6%. Solana (SOL) performs poorly in November, with an average return of -6.64%, making it one of the worst months for the coin. BNB, the native token of the Binance exchange, has negligible average returns at 0.36%. Dogecoin (DOGE), the popular meme coin, stands at an average return of 2.17%. Lastly, Tron’s TRX has the worst performance among the top 10, with an average November return of -10%.
The fourth quarter of the year has historically been profitable for XRP investors. Some of the highest monthly returns in XRP’s 10-year history have occurred in the fourth quarter, significantly boosting the coin’s average Q4 returns. In 2023, XRP has already seen a 15.4% increase in price in Q4, with two months still remaining. If the crypto market continues to recover and XRP sustains its current pace, the altcoin could close out the year with a quarterly return of over 20%, reaching $0.65 or higher.
Despite losing support at $0.6, XRP bulls remain in control of its price. Currently priced at $0.59, XRP has experienced a 3.55% increase in the last 24 hours and a 7.56% gain on the weekly chart.
Token price restarts rally | Source: XRPUSD on Tradingview.com
Featured image from Shutterstock, chart from Tradingview.com
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