XRP Surges 9% as Whales Accumulate, Bitcoin Recovery Could Boost Price to $3

Crypto markets have shown resilience this weekend, with Bitcoin (BTC) pausing its recent selloff and most altcoins, including Ripple (XRP), trading in the green. The global crypto market cap surged by more than 7% within 24 hours, hitting $2.93 trillion in market capitalization.

XRP price action has been particularly notable, with the altcoin trading at $2.20 today, a 9% gain in 24 hours. Derivatives trading data and whale activity suggest that XRP price may extend this rally and potentially recover past $3. The XRP order book shows a significant bid skew, with traders placing more bids (buy orders) than asks (sell orders), indicating high demand for the altcoin. This positive skew has historically preceded strong rallies in XRP price.

Whale activity has also flashed a buy signal, with large addresses potentially accumulating XRP after the recent price drop. If this pattern repeats, these large addresses may start buying the bottom, driving the price up. However, Ripple price is likely to continue tracking Bitcoin in the near term, and until Bitcoin establishes a strong support level within the $80K - $90K zone, XRP may continue experiencing wild swings.

Analysts expect Bitcoin to pause its crash over the weekend and potentially recover, adding credence to a Ripple (XRP) price rally that could hit $3. XRP can continue to rally and reach $3 if Bitcoin continues to recover and averts another selloff. Additionally, other catalysts like an end to the SEC vs. Ripple case could stir a 300% gain for XRP price in March.