XRP showcased a robust 38.9% price surge during the third quarter of 2024, significantly outperforming most altcoins with an average monthly growth of 10.9%. Despite facing recent market turbulence, the asset maintains historical momentum for potential bullish July closures supported by accelerating institutional adoption.
Historical data reveals XRP consistently secured positive returns in July, with notable performances including 48.1% gains in July 2020 and 47.6% growth in July 2023. This pattern fuels market expectations for another strong monthly close despite current volatility.
The asset recently experienced a 10.57% intraday drop to $3.08 as Bitcoin’s market dominance climbed to 61.21%, partially triggered by a sell-off on South Korean exchange Upbit. Concurrently, trading volume skyrocketed 141.92% to $17.18 billion within 24 hours, underscoring heightened market activity.
Signaling institutional confidence, NASDAQ-listed Nature’s Miracle Holding allocated $20 million to XRP. This strategic investment highlights growing institutional recognition of the asset’s utility and adoption potential amid broader cryptocurrency market fluctuations.