SHIB has a strong October history, with past price increases averaging 283.4%, potentially leading to a price tripling this month.
XRP closed last week at its highest level in 2024, though a potential SEC appeal could introduce uncertainty.
Bitcoin’s September close in positive territory suggests it may see strong gains in Q4, according to historical data.
SHIB, the popular meme cryptocurrency, is gearing up for a potential price surge as the month of October begins. Known as "Uptober" within the crypto community, October has historically been a month of significant gains for digital assets, and SHIB could be a major beneficiary this time.
Data from CryptoRank reveals that SHIB has experienced an average return of 283.4% in the past October. Additionally, the median return for the token has exceeded 10%, fueling excitement among SHIB supporters. This historical performance leads to speculation that SHIB could see a repeat of its October success, potentially reaching a price of $0.000075.
Strong October History for SHIB
In October 2021, SHIB saw its most impressive performance, surging by 833%. While such explosive growth may not be guaranteed for 2024, recent trends suggest the token could experience another significant upswing this year. Supporters of the dog-themed token believe that the conditions are in place for another strong month.
If the anticipated surge materializes, SHIB could see its price triple, building on the positive momentum that typically characterizes the crypto market during this month. Many traders are closely monitoring SHIB’s price as October unfolds.
XRP Achieves Highest Weekly Close of 2024
Meanwhile, XRP has made headlines by closing last week at its highest level of 2024, finishing above the $0.64 mark. According to Blockchain Backer, this milestone marks a key victory for bulls, who have been attempting to push the token past the resistance level for several months.
Despite XRP's strong performance, the approaching October 6 deadline for a potential SEC appeal against Ripple’s favorable ruling in the ongoing legal case looms large. If the SEC decides to challenge the ruling, it could create uncertainty and potentially impact XRP’s price, although legal experts suggest any changes may not take effect until 2026.
Bitcoin Poised for Strong Q4 Performance
Bitcoin is also drawing attention with its potential for gains in the fourth quarter. Following a solid performance in September, analysts believe Bitcoin could see significant growth in the coming months. Historical data from Eric Crown suggests that whenever Bitcoin closes September in positive territory, it tends to deliver strong fourth-quarter returns.
