XRP Down 7% as June Replays Its Historical Bearish Pattern

$XRP bulls are on alert this month as the token appears to be reenacting its least favorite seasonal ritual: a June decline. Historical data suggests this month has rarely been kind to $XRP, and early signals indicate 2024 is lining up to follow the same disappointing script.

According to CryptoRank, $XRP has finished June in the red in eight of the past twelve years, making it one of the asset's seasonally weakest months. The token has posted steady declines for seven consecutive Junes, with losses typically amplified in years when May also closed negatively.

This year appears to be no exception. Just three days into June, $XRP is already down 7.23%, while the previous month also closed on a negative note. The seasonal pattern is holding with the kind of consistency that makes chart-watchers nod knowingly and bagholders wince.

$XRP recently lost its multi-month support around $1.25, and as of writing, the asset is trading at $1.22. While past performance never guarantees future results in crypto, the reliability of this trend has June looking less like a setup for a recovery and more like a grim seasonal rerun.