As we step into September, the cryptocurrency market holds its breath, especially when it comes to XRP. Historically, this month has been a mixed bag for the digital asset—showing both impressive gains and sharp declines. With the current state of affairs and some intriguing historical data at hand, it’s worth pondering what this September might have in store for XRP.

XRP has seen some notable spikes in September over the years. For instance, in 2013, it surged by a whopping 94.4%. Not too shabby! Other years like 2016, 2018, and 2022 also showed solid gains of 46.9%, 73.2%, and 46.2%, respectively. But before you start popping champagne bottles in anticipation of another massive rally, it’s essential to note that September hasn’t always been kind; there have been significant drops too—over 20% in both 2017 and 2021. On average, XRP sees a growth rate of around 13.7% in this month, which could suggest a potential rise if history is any guide.

What makes this year different? Well, there are some bullish indicators on the horizon—like potential rate cuts from the Federal Reserve and the anticipated launch of Ripple USD (RLUSD). Yet history shows that September can be tricky for XRP; analysts at Changelly predict a peak at $0.776 this month before a correction sets in later on.

A crucial aspect influencing XRP’s fate is Ripple Labs Inc., particularly its ongoing legal saga with the SEC. While this three-year-old lawsuit has certainly stirred the pot regarding market cycles for XRP, recent developments hint that we might be nearing a resolution—possibly involving a $125 million penalty payment to Ripple (talk about irony!). Furthermore, Ripple’s moves to expand DeFi offerings could bolster demand for XRP.

The recent court rulings have provided some clarity: while XRP may be considered a security when sold to institutional investors, it isn’t one when traded on public exchanges. This distinction could pave the way for different regulatory treatments within crypto markets.

So where does that leave us? In the short term, eyes are on establishing support around $0.60 for XRP—a level that seems crucial if it hopes to maintain any upward momentum this month. And let’s not forget about large holders accumulating more; their actions often precede price movements.

In summary, while there’s potential for upside based on historical trends and current accumulation patterns among large holders, caution is warranted given past performances and broader market dynamics. As always in crypto—where volatility reigns supreme—it’s wise to keep one’s wits about them.

The author does not own or have any interest in the securities discussed in the article.