Judging by historical trends, March may be the month that XRP eventually registers a price recovery. In addition, the potential of an XRP Exchange Traded Fund (ETF) approval from the United States Securities and Exchange Commission (SEC) could equally catalyze the much-anticipated price rally. Green January and Red February For XRP February was one of the darkest months for the Ripple-associated digital currency. During this time, XRP recorded as much as a 30% price dip. Notably, this coincided with a sell-off in the broader crypto market that further triggered a shift away from riskier assets. This same asset started the year with stellar performance, recording a seven-year high of $3.39, spurred by the optimism of a spot crypto ETF. However, this was the case with other major cryptocurrencies due to the policy pivot and favorable regulatory outlook for digital assets in the US. By the end of January, XRP gallantly walked away with up to a 45.35% price gain. XRP Price Outlook XRP dipped to trade at a low of $1.95 on February 28 before it bagged some recovery. The coin was trading at $2.23 after a 4.02% 24-hour price rally. Its trading volume is currently 17.84% lower than 24 hours, suggesting a decline in traders’ interest. Still, its price action reflects some price recovery, but it is unclear if the coin will sustain the rally in March. All eyes are on the XRP ecosystem, and we are expecting the next trend to follow history. Since 2021, March has always been the month that XRP remains in the green, although it often builds on the momentum of February. XRP ETFs in the United States Brazil securities regulator Comissão de Valores Mobiliários (CVM) has already greenlighted Hashdex Nasdaq XRP Index Fund as the country’s first-ever spot XRP. Yet, the United States cannot decide favorably on the XRP ETF applications filed with the SEC. Nasdaq and CBOE have submitted filings for CoinShares, Canary Capital, and WisdomTree, but the SEC is still busy with the review . However, due to the change in the US crypto regulatory landscape, the next few months may bring the approval. With Gary Gensler out of the way, Mark Uyeda and his team may consider XRP ETFs and other crypto ETFs worthy of approval. The post Historical March Trend Expected to Push XRP Price appeared first on TheCoinrise.com .
