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Analyst: March is XRP’s month. Believe it or not.
After a period of decline, $XRP is showing noticeable consolidation, and traders are closely watching for potential breakouts in early March.
On the weekly chart, the token is seen testing the lower boundary of a descending channel, indicating accumulation ahead of a possible upward move.
Crypto analyst $XRP Captain highlighted the chart structure, noting a pattern of consecutive lower highs and lower lows over recent months. The analyst pointed out that $XRP recently touched the lower support line of the channel, suggesting a potential base for a rebound.
A favorable month for $XRP
The current price action, slightly above $1.39, indicates that buyers are stepping in near the lower boundary of the channel, signaling the possibility of upward movement. Based on the chart, $XRP Captain suggests that March will be a growth month for $XRP.
Weekly candle closes above recent lows could serve as a strong factor for the token. The analyst’s chart also shows resistance around $1.95, where rallies have been capped over the past two months. A sustained move above this level within the descending channel could open the way to higher targets.
Indicators point to accumulation
The weekly candlestick formation shows a mix of red and green candles with longer lower wicks in the bottom part of the channel. This indicates buying pressure at lower levels, while sellers have failed to push the price significantly below $1.35 despite recent attempts. This suggests accumulation by market participants in preparation for a potential upward move.
The overall trend since mid-2025, when $XRP reached its all-time high, has been downward. However, the convergence with the lower boundary of the channel suggests that $XRP may be ready to change its trajectory, and the analyst believes this shift will begin in March.
A supportive bullish forecast
A recent analysis by CryptoBull (@CryptoBull2020), another respected analyst, supports this outlook. CryptoBull predicted that $XRP could reach $4 by March 2 and climb to $9 by March 11. These forecasts align with current technical patterns, suggesting that March could see significant price momentum for the token.
Several other analysts share the optimistic outlook, noting the alignment of support levels and the potential for accelerated growth. All $XRP needs to do is break the upper resistance within the descending channel, and next month it could reach a new all-time high.
See also: "Economist suggests the date when Bitcoin’s price could start rising"
