- XRP surged from $1.95 to $2.95, marking a 51.3% increase, driven by its inclusion in the U.S. Crypto Strategic Reserve.
- Market cap rose by 6%, pushing XRP to $142.47 billion, cementing its position as the third-largest cryptocurrency.
- 88% of 822.6K traders remain bullish, despite a short-term price correction projected around $2.46 on March 15.
XRP made headlines as March began, riding the wave of a major development—its addition to the United States Crypto Strategic Reserve. This news sent shockwaves through the market, driving its price to a fresh monthly high. Alongside other top assets like Cardano (ADA) and Solana (SOL), Ripple is now at the center of investor speculation.
The asset surged from $1.95 to a high of $2.95, a nearly 51.3% gain within days. The rally has ignited bullish hopes, with many expecting even greater gains in the coming weeks.
In the last 24 hours, the broader crypto market has experienced a recovery. However, Ripple has led the charge, rising 6.13% in a single day. As of now, the token is trading at $2.46, securing its position above the $2 threshold—a level it held firmly throughout February despite market-wide turbulence.
While many cryptocurrencies struggled last month, XRP held its ground. The altcoin’s resilience came in stark contrast to Bitcoin (BTC) and Ethereum (ETH), both of which saw increased volatility. The month of March, however, has kicked off on a different note. With fresh institutional interest, Ripple’s stronghold above $2 signals growing market confidence.
Price action alone doesn’t tell the full story. XRP’s market cap climbed by nearly 6% following its recent rally. It now holds a valuation of $142.47 billion, making it the third-largest cryptocurrency after Bitcoin and Ethereum.
XRP’s increasing market share is a strong indicator of growing investor confidence. Its dominance now stands at 5.6% of the total cryptocurrency market, marking a steady rise from 5.2% last month. The coin’s performance also strengthens the broader altcoin resurgence, fueling optimism that March could be a month of continued gains.
Investor sentiment remains overwhelmingly bullish. According to CoinMarketCap’s Community Sentiment Data, a staggering 88% of 822.6K participants are optimistic about XRP’s future. Only 12% anticipate a decline.
This level of confidence is noteworthy. Historically, such strong sentiment aligns with major price surges, indicating a potential continuation of the uptrend. Additionally, increased trading volume has further fueled the bullish momentum, with daily XRP trading volume crossing $5.8 billion, a 23% rise from the previous week.
XRP’s Near-Term Outlook: March 15 Price Prediction
Despite the optimism, analysts caution that a minor correction may be on the horizon. According to CoinCodex, XRP is expected to dip slightly in the coming days before stabilizing around $2.46 on March 15. While this represents a small pullback from recent highs, it doesn’t necessarily indicate a bearish reversal.
The long-term outlook for March remains strong. Several analysts predict that after a brief consolidation phase, XRP could retest $3.20 by the end of the month if broader market conditions remain favorable.
XRP’s recent surge underscores its growing relevance in the cryptocurrency space. Its addition to the U.S. Crypto Strategic Reserve has amplified market confidence, driving strong price action. While a slight correction may occur, sentiment and metrics indicate a bullish trajectory for March.