A forecast has emerged that XRP could reach $9 by March.

On Feb. 20, blockchain outlet The Crypto Basic reported that XRP was showing a stable trend at $1.41. It fell to as low as $1.11 in early February, but has since formed support around $1.40.

XRP analyst CryptoBull said, "March will act as a very bullish market for XRP," and analysed that a chart pattern similar to 2017 is appearing. He said this is a fractal that showed the most explosive rally on record.

CryptoBull overlaid XRP's current three-day chart structure with the 2017 price movement and found XRP could reach $4 by March 2 and $9 by March 11. Its market capitalisation could expand to $550 billion from $86 billion, it said.

CryptoBull's March timeline suggests XRP could rise by 2 times to 7 times over the next 3 weeks. Some commentary says that, given current market conditions, the forecast is overly ambitious.

Another analyst, CryptoPatel, analysed that XRP is down 60 percent from a $3.66 high and said the current correction is likely the final accumulation phase. He said, "XRP surged 600 percent after breaking out of a four-year falling wedge pattern and is currently re-accumulating in the $1 to $1.5 range," suggesting it could break past $10.

Some analysts warned of the possibility of further correction, arguing XRP could fall to $0.50. Strong rebound is expected if the market recovers, but some say a cautious approach is needed given short-term volatility.