Top 3 Factors Why XRP Price Is Skyrocketing Today (17th March)

XRP price surged as several market factors aligned after months of pressure earlier this year. XRP price gains followed a broader crypto market recovery, strong ETF inflows, and a technical breakout above key resistance. The rally pushed XRP higher today as the market reacts to improving market conditions across major cryptocurrencies.

XRP Price Soars as Crypto Market Recovers

XRP price jumped amid a broader crypto market rebound in the past 24 hours. The total crypto market cap surged more than 3% to $2.55 trillion. Major digital assets strengthened, which helped lift sentiment across altcoins.

Notably, Bitcoin recovered above the $75,000 level. Ethereum also regained the $2,300 level as buying activity returned despite Peter Brandt noting a potential bottom. As a result, the XRP price moved higher as the broader market strengthened.

According to the CoinMarketCap Altcoin Season Index, altcoins have begun matching Bitcoin’s recent performance. The index is at 47 out of 100, indicating a neutral market phase. This reading shows improving participation across alternative cryptocurrencies.

Bitcoin’s price rebound to the $75K level has led to questions if XRP is gearing up for $2, as CoinGape reported. The broader crypto market recovery has been influenced by geopolitical developments. Concerns over rising oil prices eased after statements about reopening the Strait of Hormuz. As a result, several digital assets advanced together during the latest market move.

ETF Inflows Support XRP Demand

Alongside market recovery, institutional demand also supported XRP price movements. According to SoSoValue data, XRP exchange-traded funds recorded total cumulative net inflows of $1.21 billion. These inflows added steady buying pressure during recent market fluctuations.

Institutional participation has remained stable despite earlier price pullbacks. Recently, Bloomberg ETF analyst James Seyffart noted that XRP ETFs have held up well during the market decline. He said the funds maintained resilience even during the recent price correction.

Meanwhile, new filings continue expanding institutional exposure to crypto markets. Investment firm T. Rowe Price submitted amendment number two for its Active Crypto ETF. The proposed fund would track several digital assets, including Bitcoin, Ethereum, XRP, Litecoin, and Shiba Inu.

Resistance Breakout and Analyst Views 

Technical movements also contributed to the latest rally. The XRP price broke above the $1.43 resistance level. The breakout led to additional momentum and pushed the asset toward the $1.50 region.

At press time, XRP value was at $1.52. The price showed an over 5% increase in the past 24 hours and over 10% gains over the past week. Meanwhile, the asset reversed earlier monthly losses and now shows an almost 2% monthly gain.

XRP in Daily Timeframe. Source: TradingView

The move followed a prolonged consolidation period that lasted several weeks. After this phase, the XRP price broke upward today and surged to the $1.50-$1.52 zone. Immediate support now is near $1.46-$1.47, while stronger support remains near $1.42. Key resistance currently is between $1.50 and $1.52. 

Meanwhile, comments from Ripple CTO David Schwartz added perspective on price volatility. Responding to a user question on X about whether XRP could surge to $4 or dip, he noted that large price swings remain possible. 

He said XRP previously rose to $3 before falling to $0.20, highlighting unpredictable price cycles. Schwartz also referenced earlier crypto market history. He said many investors once underestimated future price growth. 

Meanwhile, analyst Egrag Crypto predicted the next XRP price movements. According to his analysis, the market may be forming a multi-cycle triple bottom pattern. He said the key confluence zone is at $0.91 based on Fibonacci retracement and previous demand levels.

However, he noted that the first major strength signal would occur if XRP reclaims $1.65 on the weekly timeframe. A move above that level would break the descending corrective structure in the current formation.