The March 2026 performance continues a troubling pattern for XRP, which has posted declining returns every March since 2023.
XRP entered the final week of March 2026 under significant technical pressure, retreating 3.93% on the day as the cryptocurrency tested critical support levels while navigating a broader corrective phase.
Trading around $1.29-$1.42 as of late March, the asset faces a monthly target test around $1.04 according to technical analysis, with the outcome dependent on whether institutional demand can stabilize prices or if capitulation accelerates further downside.
The critical $1.27 support zone, which aligns with the 23.6% Fibonacci retracement often referred to as the bear market support floor, has become the immediate battleground.
XRP IS down 60% from its 2025 high of $3.65
The current month's weakness reflects a five-month red streak that has weighed heavily on market sentiment, with XRP down 60% from its 2025 high of $3.65.
The cryptocurrency has further corrected 41% from its $2.41 peak, with what began as a swift February recovery, when XRP climbed from $1.15-$1.18 to above $1.45, deteriorating into predominantly bearish price action from February 23 onward.
Despite persistent price weakness, on-chain metrics tell a contrasting story. The $738 million in exchange outflows recorded as of March 10, 2026, suggests that major holders are moving XRP off exchanges into self-custody, a pattern historically associated with accumulation phases rather than distribution.
XRP ETF Launched But Is The Demand Evaporating?
It has been over three months since the first XRP ETF launched, but the demand has evaporated.
Seven spot XRP ETFs launched in mid-November 2025 to significant fanfare, attracting $1.44 billion in cumulative inflows by early March 2026. But the initial enthusiasm has faded dramatically: recent weekly net inflows dropped to just $7.65 million, while XRP's price crashed from $2.40 at the start of 2026 to approximately $1.42, a 40% decline that raises questions about sustained institutional interest.
The launch period appeared promising. XRP ETFs recorded over 50 consecutive trading days without outflows until January 7, 2026. Exchange-held XRP balances plummeted 57%, from 4 billion tokens at the start of 2025 to 1.7 billion by late December, the lowest level since 2017-2018, according to Glassnode data.
"Spot XRP ETFs have accumulated about $1.4 billion in cumulative inflows since launch," noted Bloomberg Intelligence analyst James Seyffart, highlighting the resilience despite price volatility. Goldman Sachs emerged as a leading institutional holder, though retail investors drove much of the demand.
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