Ripple (XRP) opened trading at $0.53 on Feb. 26, marking an 8% decline from its monthly peak of $0.58 on Feb. 15. As the price trended downwards over the past week, the question arises: can whale investors ignite a rebound in March?

Underperformance in February

XRP started February on a positive note, climbing 19% from $0.49 to $0.58 between Feb. 1 and Feb. 16. However, the momentum was not sustained, and XRP has lagged behind the overall altcoin market average in the second half of the month. By Feb. 26, the price had dipped to $0.53.

While other sectors like DeFi and Crypto AI saw significant growth, XRP’s market demand and media attention dwindled.

Whale Investors’ Activity

Despite the price dip, whale investors have been strategically accumulating XRP. Wallet balances holding 1 million to 10 million XRP coins increased by 70 million coins between Feb. 16 and Feb. 26, amounting to approximately $38.5 million.

This trend indicates a bullish sentiment among whales, which historically has preceded price rallies in XRP.

Price Forecast

Looking ahead to March, XRP is poised for a potential upswing towards $0.60, with $0.57 identified as a key resistance level. A breakout above this level could pave the way for a retest of $0.60.

On the downside, a drop below $0.50 could invalidate the bullish forecast, but with whale investors showing strong buying activity, this scenario seems unlikely in the short term.

For more insights and updates on Ripple (XRP) and other cryptocurrencies, stay tuned to Global Crypto News.

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