The historical performances of the top 10 cryptocurrencies by market cap have revealed that XRP is the best coin to invest in for November. This assessment is based on the average monthly returns for all of the top 10 coins through the month of November, and XRP having the highest returns.
XRP Beats Out Other Top 10 Crypto
The historical performance information obtained from the CryptoRank website has shown an impressive performance trend for XRP especially in the month of November. In its 10-year history, the average returns for November have been the second-highest so far, presenting it as a month with ample opportunity for crypto investors.
To put this in perspective, XRP’s average November returns are sitting at 70.1%. This sits much higher compared to that of Bitcoin which comes in at an average 46.9% return. For Ethereum, the figure is even much lower at an average of 0.91%.
Moving forward, the average November returns for Cardano (ADA) came closer to Bitcoin’s at 43.6%. Solana (SOL) actually comes out in the negative at -6.64%, with November being one of the worst months for the price.
BNB’s average November returns were almost negligible at 0.36%, while the largest meme coin in the crypto market, Dogecoin (DOGE), stands at an average return of 2.17%. Last but not least is Tron’s TRX which just made its way back into the top 10. Its average November returns are even worse than SOL at -10%.
Making Its Way Into A Profitable Quarter
The fourth quarter of the year has more often than not been profitable for XRP investors. Some of the highest monthly returns in its 10-year history have taken place in the fourth quarter, drastically increasing the average Q4 returns of the altcoin.
Already, the fourth quarter of 2023 has proven to be profitable for the XRP price given its stint over $0.6 before correcting back downward. CryptoRank data also shows that the coin’s price is already up 15.4% in Q4 2023, with another two months left to go.
If the crypto market continues its recovery trend and XRP keeps up the pace, then the altcoin could close out the year in the green. A return to the $0.65 and a close above it would ensure an over 20% quarterly return for the crypto.
For now, XRP bulls are still pulling hard on the strings of control despite losing the $0.6 support. Its price is sitting at $0.59, constituting a 3.55% increase in the last day and 7.56% gains on the weekly chart.
Token price restarts rally | Source: XRPUSD on Tradingview.com
Featured image from Shutterstock, chart from Tradingview.com