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XRP, the fourth largest cryptocurrency by market capitalization, ended February nearly 30% down as the broader crypto market saw selling pressure due to various macroeconomic concerns.
XRP's price experienced a notable decline in February as a broader crypto sell-off spurred a market shift away from riskier assets. XRP had a stellar start to the year, skyrocketing to a seven-year high of $3.39 amid optimism of a spot crypto ETF and a favorable regulatory outlook; XRP concluded January up 45.35%.
Tomiwabold OlajideNotably, XRP has been on a bull run since November, with increases of 282% and 6% in the final two months of 2024, followed by a 45% gain in January.
However, February saw a slowdown for XRP's price, marking its first red month since November 2024. XRP fell from around $3 to below $2, hitting a low of $1.95 on Feb. 28 before recovering.
At the time of writing, XRP was up 3.84% in the last 24 hours to $2.26, continuing its recovery from March 1.
As eyes are peeled on where XRP trends next, historical trends suggest that March could bring a much-needed recovery. Since 2021, XRP has consistently closed March in the green, often building on momentum from February. Even in 2023, when February ended in the red, XRP still managed to finish March with gains.
What history suggests
As March kicks off on a positive note for XRP, the market is watching for signs of a sustained rebound. Looking at XRP's performance over the last four years, the cryptocurrency concluded March in the green, indicating that a rebound is possible if history repeats itself.
Arman ShirinyanIn 2021 for instance, XRP gained momentum in February and carried it into March, posting strong gains of 180% per TradingView data. In 2022, a similar pattern emerged, with March delivering a positive close of 4.31%.
In March 2023, despite a red February, XRP managed to rebound and close March in the green with gains of 42.98%. In 2024, XRP repeated the trend, closing March with gains of 7.25%.
While history suggests a rebound, it’s important to bear in mind that past performance might not be a guarantee of future results. XRP price might be impacted by broader market conditions and developments in the XRPL ecosystem or the Ripple SEC lawsuit.
With March historically favoring XRP, all eyes are on whether XRP will stage a recovery despite February’s losses.
Dan Burgin
Vladislav Sopov