{"id":124845,"date":"2025-03-11T14:15:59","date_gmt":"2025-03-11T14:15:59","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=124845"},"modified":"2025-03-11T14:15:59","modified_gmt":"2025-03-11T14:15:59","slug":"3-reasons-xrp-might-drop-to-1-60-in-march","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=124845","title":{"rendered":"3 reasons XRP might drop to $1.60 in March"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsThe XRP (XRP) daily chart registered its lowest candle close in 99 days on March 10. The altcoin dropped below the $2 support level but registered a short-term recovery of 12% on March 11. XRP 1-hour chart. Source: Cointelegraph\/TradingView<br \/>\nOn the high time frame (HTF) charts, XRP must hold above its psychological level at $2, but other metrics suggest that a deeper drawdown is possible.<br \/>\nXRP markets lack buyers as futures flip bearish<br \/>\nXRP price is currently down 37.1% from its all-time high of $3.40. When prices dipped by a similar percentage on Feb. 3, spot market bids quickly absorbed the selling pressure, pushing XRP above $2.50.<br \/>\nXRP\u2019s spot and perpetual aggregated data. Source: aggr.tradeHowever, XRP\u2018s spot and perpetual markets were relatively bearish over the past week. Data from aggr.trade indicates that XRP\u2019s spot cumulative volume delta (CVD) dropped by 50% in March.<br \/>\nA negative CVD means that there is more selling volume than buying. The current CVD value is -$408 million, which signals waning demand, with sellers taking control.<br \/>\nLikewise, futures traders are also turning bearish, with perpetual CVD dropping to -1.18 billion on March 11. XRP\u2019s open interest-weighted funding rate has also turned significantly negative, which indicates more short positions were added over the past few days.<br \/>\nXRP funding rate chart. Source: CoinGlassXRP whales continue selling spree<br \/>\nXRP\u2019s volume bubble map showed a surge in activity toward the end of February. Ki-Young Ju, CryptoQuant founder, observed that this uptick aligned with an ongoing distribution phase for XRP.<br \/>\nDistribution refers to a period in the market cycle when large investors slowly offload their positions to secure gains, usually happening close to the peak of an upward trend.<br \/>\nRelated: Why is the XRP price down today?<br \/>\nCurrent data reveals that the distribution phase has intensified over the past seven days. Specifically, whale outflows, measured as a 30-day moving average, have steadily risen.<br \/>\nThis increase suggests that large holders continued to offload their XRP positions, further driving the distribution trend.XRP total whale flows. Source: CryptoQuantBetween March 4 and March 10, these large XRP holders offloaded roughly $838 million in positions. This significant sell-off reflects the ongoing bearish trend for XRP.XRP price H&amp;S pattern hints at $1.60 retest<br \/>\nOn March 11, XRP\u2019s 1-day chart closed below $2.05, which is the critical neckline of the daily head-and-shoulders pattern. This pattern has potentially strong bearish consequences when observed on a high time frame (HTF) chart.<br \/>\nXRP 1-day chart. Source: Cointelegraph\/TradingViewLower prices are likely if XRP fails to reclaim $2.05 as support, as illustrated in the chart above.<br \/>\nThe immediate target zone for the XRP price remains between 0.5 and 0.618 Fibonacci retracement lines. Also known as the \u201cgolden zone,\u201d the retest range lies between $1.90 and $1.60. The likelihood of retesting the 0.618 Fibonacci or $1.60 is high in the current bearish environment.<br \/>\nFailure to hold this range could lead to a retest of the long-term demand zone between $1.58 and $1.27.<br \/>\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<a href=\"https:\/\/cointelegraph.com\/news\/3-reasons-xrp-might-drop-1-60-march?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsThe XRP (XRP) daily chart registered its lowest candle close in 99 days on March 10. The altcoin dropped below the $2 support level but registered a short-term&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124845"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=124845"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/124845\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=124845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=124845"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=124845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}