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$XRP is signaling bullish moves. The coin is witnessing a price rally that could see it close the month of March on a positive note. Notably, $XRP has recorded its fourth-best price performance in March since 2014.
$XRP’s March rally and historical trends
Cryptorank data shows that $XRP's average monthly price growth has been 18% for the past 11 years. Given its trajectory so far, analysts predict a likely repeat performance for the coin.
Despite experiencing volatility on the market, $XRP has rebounded well, lifting off from key support levels. For instance, $XRP dropped as low as $1.93 within the last seven days as the general market witnessed bearish pressure.
However, the coin has recovered sharply and returned to the $2 zone. As of this writing, $XRP's price changed hands at $2.32, representing a 2.88% uptick in the last 24 hours, per CoinMarketCap data.
Within the same time frame, trading volume increased slightly by 0.14% to $5.61 billion. The recovery has attracted the interest of investors who are ready to engage and actively take advantage of the possible price rally.
Factors influencing $XRP’s trajectory
Based on historical precedence, market observers note that $XRP price growth commences in March and proceeds upward.
$XRP has historically recorded an average increase of 26.6% and 27.7% in April and May. Therefore, the rebound move seen by $XRP at the moment might signal a pending rally for the coming months.
Meanwhile, developments like the Securities and Exchange Commission's (SEC) pending decision on filed applications could swing things for $XRP.
Notably, Nate Geraci, president of the ETF Store, has predicted that BlackRock could join the race for an $XRP exchange-traded fund (ETF). So far, several asset managers have filed for an $XRP ETF, although the SEC has shifted from deciding on Grayscale's application to May 21, 2025.