3 Reasons why XRP could turn around by the end of March

One cryptocurrency, despite the gains in the digital assets market this month, has been struggling. According to CoinMarketCap, the price of Ripple has dropped by more than 1.4% in just 24 hours. CoinMarketCapIt is currently trading at $0.62 replacing the many gains made throughout March.

It ended Friday down by 5% and continued a huge correction which began after the asset reached its highest level of $0.7440 for this year on Monday. Although this correction fits in with an overall market trend, the situation could turn around.

This month will be crucial for Ripple. A number of significant developments could lead to a huge turnaround for XRP at the end of March. Let’s look at three possible reasons for Ripple to turn around by the end of this month.

Ripple Lawsuit vs. SEC

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Ripple vs. US Securities and Exchange Commission(SEC) should be the starting point for any discussion about XRP. Two sides have engaged in a legal battle for many years. The asset could benefit, however, from a near-term conclusion.

Many believe that XRP is struggling because of its involvement in the ongoing regulatory battles. For investors worried about the current legal battle, a conclusion is coming sooner than later. Important court dates are taking place. SEC has a short deadline for its opening on the 22nd of March.

The trial is not over yet, but this date is an indication that it’s getting close. Ripple will have until the 22nd of April to respond after receiving an opening briefing from the SEC. SEC will be able to respond on the 6th of May. But the start of the end may bring positive emotions.

The trial is still ongoing, and the current perspective seems to portray Ripple as a positive entity. Indeed, Harvard Law School Has discussed the enforcement actions that occurred in 2023. The SEC was cited as having suffered a significant loss due to Ripple. In general, this suggests that XRP may continue to profit from increased perspectives.

ETF Hype

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The ongoing ETF hype is another factor that could cause Ripple to face a turn around by March’s end. The digital asset market is thriving thanks to Bitcoin’s ETF. Many people are interested in what other assets might be available. next Receive approval for the same funds.

Ripple’s standing as a regulator and the potential obstacles to an approval are causing concern. Many people have expressed their confidence that a product like this could be brought to the market. Ripple CEO Brad Garlinghouse Ripple Labs has previously stated that it would be open to such an offer.

Additionally, Uphold Bank executive Martin Hiesboeck A XRP-based ETF has been said to be “just around the corner”. Discussions about such a product are sure to have a huge impact on XRP in the near future.

There have been discussions about an Ethereum ETF (EHT). Both investment funds approval could have major repercussions on the entire market for digital assets. Many people are hoping that the SEC will approve both investment funds.

Technical Indicators

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The technical analysis is what gives Ripple (XRP), the digital asset, hope to finish March in a positive way. According to the experts, the asset would reach $0.5758 if it continues to drop. This is the Fibonacci Retracement of 2024’s peak. FX Street. After that, the recovery process could start.

In particular, it is possible that the asset will eventually cause a rally to return the price back up to $0.7440. The relative strength (RSI), which measures the value of an asset, is also almost 52. It is almost neutral, and it does show indecision. The Awesome Oscillator(AO) does note that there’s positive momentum in regards to a possible correction for XRP.

All in all, this could indicate a rise in XRP in the near future. Ripple may face a turn around until March. Then, in the final moments of the SEC case it may follow a bullish trend. It could then be positioned for a storm that will propel it higher.