Crypto community with over 90% historical accuracy sets XRP price for March 31, 2023

[ad_1]

CoinMarketCap cryptocurrency community price estimation is based solely on the votes of its users. Estimates do not guarantee month-end prices.

After Ripple CEO Brad Garlinghouse revealed his company’s exposure to the now-collapsed Silicon Valley Bank (SVB), the XRP token responded with a slight decline on its daily chart, but the crypto community currencies is still bullish on the digital asset.

Indeed, according to 1,115 community votes cast by members of crypto tracking platform CoinMarketCap at press time, XRP is expected to reach an estimated average price of $0.4101 by March 31, a 13.64% or +$0.04923 increase in the price of the token at press time, according to data retrieved on March 13.

XRP price estimate at the end of March. Source: CoinMarketCap

It is also important to note that the crypto community’s projections for the XRP token over the past six months have had a historical accuracy of 91.73%, making it a suitable alternative to price estimates made by trading platforms. intelligence (AI), which set a much lower XRP price for the same period.

Accuracy of the XRP estimate over 6 months. Source: CoinMarketCapXRP technical analysis

As for the technical analysis (TA) of XRP on the 1-day gauges on the financial watch website TradingView, it is very bearish. Its summary aligns with the “strong sell” sentiment at 16, which is the result of moving averages (MA) pointing to “strong sell” at 14, and oscillators in the “neutral” zone at 8.

XRP 1 day trading gauges. Source: Trading View

Meanwhile, the token is currently changing hands at a price of $0.3609, down 0.08% on the day, as well as losing 1.96% over the previous week and 5.76% over the past week. prices for the past 30 days, according to the latest data retrieved by Finbold in March. 13.

30-day XRP price chart. Source: Finbold

Whether the community’s bullish predictions come true will depend on various factors surrounding its ecosystem, such as the outcome of the legal battle between blockchain company Ripple and the United States Securities and Exchange Commission (SEC), as well as the crypto landscape. and broader macroeconomics. .

Disclaimer: The content of this site should not be considered investment advice. The investment is speculative. When you invest, your capital is at risk.

[ad_2]