XRP’s price remained flat today, March, continuing the consolidation phase that began in February. However, ongoing inflows into exchange-traded funds and declining exchange supply suggest that a rebound may be on the horizon. XRP price has formed a double-bottom pattern pointing to a strong rebound. The supply of XRP tokens on exchanges has dropped to the lowest level in years.
Data shows that spot XRP ETF inflows have continued rising this month. Ripple (XRP), one of the top cryptocurrencies, was trading at $1.4282 on Thursday, inside a range it has been in the past few weeks. This price is 28% above the year-to-date low of $1.1137. American investors are still buying XRP ETFs, a sign that they expect it to rebound in the coming weeks.
Increased buying by American institutional investors in a time when the price is stuck in a tight range is a sign of accumulation, which often leads to a strong rebound. Another sign of accumulation is that XRP outflows from exchanges are increasing. Data compiled by CryptoQuant shows that over 7 billion XRP tokens exited exchanges in February. The total amount of XRP tokens in exchanges has dropped to the lowest level in years.
A possible reason why investors are accumulating XRP tokens is its strong fundamentals, including the ongoing Ripple USD growth. The stablecoin has accumulated over $1.5 billion in assets, with its daily volume soaring to over $1.5 billion. RLUSD is benefiting from the rising demand from both retail and institutional investors, a trend that may continue after its integration on Ripple Prime.
The eight-hour chart shows that the XRP price has remained in a narrow range in the past few weeks. A closer look shows that it formed a double-bottom pattern at $1.3350 and a neckline at $1.6745. This pattern normally means that short-sellers are largely uncomfortable placing short trades below that level. The coin has moved slightly above the 50-day Exponential Moving Average.
Also, the Percentage Price Oscillator has crossed the zero line, while the Relative Strength Index has jumped above 50. Therefore, the most likely XRP price forecast is bullish, with the next key target being the neckline at $1.6638. The bullish view will become invalid if it drops below the key support level at $1.3350.
XRP’s price remained flat in March, continuing the consolidation that began in February. ETF inflows and shrinking exchange supply suggest a rebound may be on the horizon. The token was trading at $1.4282 on Thursday, roughly 28% above the year-to-date low of $1.1137. Data from CryptoQuant shows more than 7 billion XRP tokens exited exchanges in February, pushing total exchange stock to multi-year lows.
Spot XRP ETF inflows have continued rising this month, underscoring persistent demand from both retail and institutional buyers. A double-bottom pattern formed at $1.3350 with a neckline near $1.6745 signals improving sentiment, with the next target around $1.6638. The eight-hour chart indicates XRP trading slightly above the 50-day EMA, with the Percentage Price Oscillator crossing zero and the Relative Strength Index rising above 50, reinforcing a bullish bias. The bullish scenario would be invalidated if prices fall below the key support at $1.3350.
Additional fundamentals, including RLUSD growth and its integration on Ripple Prime, could sustain demand and support a continued rebound.
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