2024

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Ripple (XRP) price opened trading at $0.53 on Feb. 26, down 8% from its monthly peak of ot $0.58 recorded on Feb. 15, can whale investors spark rebound in March?&nbsp; 
After its positive performance in the first-half of February topped out at $0.58, XRP price has been on a steep downward trend in the last past week. However, early signals of a positive start to March 2024 have emerged as whale investors begin to buy the dip.&nbsp; 
<h2 class="wp-block-heading" id="xrp-price-has-underperformed-the-altcoin-market-average-in-february">XRP price has underperformed the altcoin market average in February</h2> 
XRP price started February 2024 positively, rising 19% from $0.49 to $0.58 between Feb. 1 and Feb. 16, but since then, it has struggled to sustain the momentum.&nbsp; 
In the second-half of February, XRP has fallen behind the overall altcoin market average, losing 8% of its gains as prices dipped toward $0.53 at press time on Feb. 26.&nbsp; 
With top performers in the DeFi and <a href="https://crypto.news/how-nvidia-earnings-could-impact-crypto-ai-tokens-400-rally/" data-type="post" data-id="14250462">Crypto AI sectors</a> led by capital flowing towards Ethereum, and the chart-topping NVIDIA corp, the <a href="https://crypto.news/price/xrp/" target="_blank" rel="noreferrer noopener">Ripple-backed token</a> has fallen down the pecking order in terms of media attention and market demand.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/0q82cQrxkCzUk6ZTnnxVsekDmTBbBVD5D2liP0DW33Y03G4lVDSXrbquhlODqJaeNtXJGP2-W8MNUrQ0PuWUfMZxqVJKzNjlwQNLSS3E1KKLj1rQIIooBqZDcp-aS8DlxccGayrmnq1vRCXCl_wM8DA" alt="Ripple (XRP) Price Performance vs. Global Altcoin Markets Feb 2024">
 <figcaption class="wp-element-caption">
 Ripple (XRP) Price Performance vs. Global Altcoin Markets February 2024 | Source: <a href="https://www.tradingview.com/x/7N1DGHYW/" target="_blank" rel="noreferrer noopener">TradingView</a>
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TradingView’s TOTAL2 chart, estimates that the global altcoin markets have received capital inflows worth $194 billion in February 2024, representing a whopping 26% growth. In comparison XRP 9% month-to-date performance has fallen short of the market average.&nbsp; 
However, recent on-chain movements trends observed among whale investors suggest this&nbsp; trend could flip bullish for XRP in the coming weeks.&nbsp; 
<h2 class="wp-block-heading" id="crypto-whales-acquired-70-million-xrp-amid-price-dip">Crypto whales acquired 70 million XRP amid price dip&nbsp;</h2> 
XRP price has tumbled 8.3% in the last 10 days, but in an unusual turn of events, a strategic cohort of price-savvy crypto whales have been spotted buying the dip aggressively.&nbsp; 
Santiment’s chart below depicts real-time changes in balances held by wallets with 1 million to 10 million XRP coins. When the price declined at the local peak of $0.58 on Feb. 16, the whales held a total of 3.59 billion XRP in their cumulative balances. As of Feb. 26, they have added 70 million coins, bringing their balances to 3.66 billion XRP.&nbsp; 
<figure class="wp-block-image size-full is-resized">
 <img loading="lazy" decoding="async" width="3168" height="1502" src="https://crypto.news/app/uploads/2024/02/Screen-Shot-2024-02-26-at-11.14.18-AM.png" alt="Ripple (XRP) whales invest $40M in 10 days, here’s what to expect in March 2024 - 30" class="wp-image-14252579" style="width: 100%;height:auto">
 <figcaption class="wp-element-caption">
 Ripple (XRP) Whales Wallet Balances vs. Price, Feb. 16 – Feb. 26, 2024 | Source: <a href="https://embed.santiment.net/chart?ps=xrp&amp;pt=XRP&amp;df=2023-12-25T00%3A00%3A00.000Z&amp;emnm=1&amp;emcg=1&amp;wm=price_usd%3Bholders_distribution_combined_balance_1M_to_10M&amp;wax=0%3B1&amp;wc=%2326C953%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" target="_blank" rel="noreferrer noopener">Santiment</a>
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Valued at the XRP’s 10-day Simple Moving Average price of $0.55, it implies that the whales have spent approximately $38.5 million buying the dip between Feb. 16 and Feb. 26.&nbsp; 
Heading into March 2024, the whale’s buying pressure could have a positive impact on XRP price for a number of reasons. Firstly, whale’s influence could incentivize retail investors to take on a bullish disposition, resulting in a significant market demand boost.&nbsp; 
More importantly, historically, the buying trends of the particular whale cohort have often preceded past XRP price rallies. Hence, a repeat could trigger a significant price upswing.&nbsp; 
<h2 class="wp-block-heading" id="xrp-price-forecast-0-57-remains-a-major-resistance">XRP price forecast: $0.57 remains a major resistance</h2> 
Drawing data-driven inferences from the recent market trends, XRP price appears more likely to enter an upswing toward $0.60 than a downswing below $0.50 in early days March 2024.&nbsp; 
However, the Parabolic Stop and Reverse (SAR) technical indicator identifies the $0.57 area as the major short-term price resistance for XRP bulls. If the bulls can state a decisive breakout above the area, a $0.60 retest could be on the cards.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/FYQt5I8vhu8irb6N56jm27UPrgMMvyTFflzW7z8v0YUYSYLkaUdDOpbwk_A69T8CDEWASDZJ3II4ICrxExBoJi6dyguZ9_KRJ2B4xUFPltIBG4-5UDYpxnvj5TttofPzlWt7J9ZAnZc1i5mJ05e-kjE" alt="Ripple (XRP) Price Forecast, February 2024 ">
 <figcaption class="wp-element-caption">
 Ripple (XRP) Price Forecast, February 2024 | Source: <a href="https://www.tradingview.com/x/UtWhLrTZ/" target="_blank" rel="noreferrer noopener">TradingView</a>
 </figcaption>
</figure> 
On the downside, the bears could invalidate this bullish XRP price forecast by forcing a downswing below $0.50 psychological support. But with crypto whales currently buying the dip, this scenario seems unlikely in the short-term. 
 Read more: <a href="https://crypto.news/xrp-could-set-new-all-time-record-in-the-next-bull-as-altcoins-flourish/"> XRP may rally in next bull run, altcoins flourish </a>

Ripple (XRP) whales invest $40M in 10 days, here’s what to expect in March 2024

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