XRP Signals Bullish Moves

XRP is experiencing a price rally that could lead to a strong closure for March. It has achieved its fourth-best performance in March since 2014.

XRP’s March Rally and Historical Trends

Cryptorank data indicates that XRP’s average monthly price growth has been 18% over the last 11 years. Analysts expect a similar performance this year.

Despite market volatility, XRP has bounced back from key support levels. The coin fell to $1.93 recently due to bearish market conditions but has since recovered to about $2.32, reflecting a 2.88% increase in the last 24 hours according to CoinMarketCap. Trading volume also rose slightly to $5.61 billion, sparking investor interest in the rally.

Factors Influencing XRP’s Trajectory

Historically, price growth for XRP tends to begin in March and typically continues into the following months, with average increases of 26.6% in April and 27.7% in May. The current rebound could signal an impending rally.

Additionally, developments such as the SEC’s pending decisions on filed applications may influence XRP’s trajectory. Nate Geraci, president of the ETF Store, anticipates that BlackRock might file for an XRP exchange-traded fund (ETF). Numerous asset managers have submitted applications, but the SEC has postponed decisions on Grayscale’s application until May 21, 2025.