XRP Price Prediction for Today (March 16) as Ripple Whales Go on a Buying Spree

The XRP price has had a pretty slow weekend as it’s down 1.2% in the last 24 hours, now trading at $2.37. However, when we look at the weekly timeframe, XRP actually had a much better week than other major altcoins.

For instance, Ethereum is down 11% and Doge is down 8% during this period, while XRP actually gained 1.85%, likely because there are strong rumors in the crypto and Ripple community about the SEC finally dropping the XRP case. However, it’s hard to imagine the case will be resolved today or in the next few days anyway.

Before we dig into XRP price forecast for today, let’s explain how Ali Martinez reported positive news for XRP holders this morning.

Large Investors Loading Up on XRP

Martinez’s data shows big XRP investors have been buying more coins lately. These whales, who own between 100 million and 1 billion XRP, bought about 150 million XRP in just two days.

The chart shows XRP’s price dipped slightly but started recovering as these whales bought more. This suggests these big investors might be helping support the price or buying more XRP because they expect it to rise soon.

This buying trend became obvious around March 12-13 and seems to be continuing. When whales buy this much, it often means they feel confident about XRP’s future. Sometimes this leads to price increases, especially if smaller investors follow their lead. But it could also just mean these large investors are adjusting their portfolios.

Read also: Experts Predicts XRP Price Will Hit ‘Double Digits This Cycle, Triple Digits Next’ – Here’s Why

XRP Price Prediction for Today

XRP’s RSI is currently at 49 on the daily chart. This means XRP is trading in the middle ground – not overbought or oversold. Traders don’t get a clear buy or sell signal from this level.

The Ultimate Oscillator at 48.6 backs up this neutral position. This indicator looks at multiple timeframes and suggests buying and selling pressures are roughly equal right now.

With a MACD value of -0.075, XRP shows slightly bearish momentum since it’s just below zero. But the number is so small that the bearish signal isn’t very strong.

The CCI reading of 10.67 tells us XRP is trading a bit above its average price. While positive, this small number doesn’t signal strong upward momentum – just that prices are slightly above average.

Given these indicators and the recent whale buying, XRP will likely trade between $2.30 and $2.45 today. The whale activity provides some support against further drops, but the neutral technical indicators suggest no major breakout is coming right away.

If whales keep buying and the market mood improves, XRP might test the upper end of this range, and then $2.50-2.55, but traders should expect prices to mostly hover around current levels.

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Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!

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