XRP fell on August 7 after the US Senate delayed a vote on the CLARITY Act until September, adding pressure to a token that had been losing ground against Bitcoin for weeks. Historical data shows XRP posted negative August returns during every previous US midterm year, falling 5.7% in 2014, 23.0% in 2018, and 13.7% in 2022, for an average drop of about 14%. XRP was trading around $1.02, down 3.0% in 24 hours and nearly 6% across the week, with trading volume climbing more than 14% to about $1.33 billion. Despite the short-term weakness, analyst ChartNerd maintained a long-term outlook, pointing to a cup-and-handle pattern with possible targets at $8, $13, and $27.
Source: Read the original article
