As the exceptionally bullish sentiment in the cryptocurrency industry continues to push the price of its assets upward, including that of XRP, which has already surpassed the $0.65 threshold, machine learning and artificial intelligence (AI) algorithms predict more advances in the near future.
Indeed, the XRP token could continue to improve its price during March, potentially reaching $0.70067 by March 31, 2024 – according to the advanced price projection algorithms deployed by the crypto analytics and forecasting platform PricePredictions, as per the information obtained on March 4.
Should this prediction, relying on indicators like the relative strength index (RSI) Bollinger Bands (BB), moving average convergence divergence (MACD), average true range (ATR), and others, prove correct, it would represent an increase of 6.26033% from the price of XRP at press time.
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XRP price analysis
Specifically, XRP is currently changing hands at the price of $0.65939, recording an increase of 6.31% in the last 24 hours, adding up to the 23.84% advance across the previous seven days, as well as gaining 26.89% over the past month, as the most recent charts suggest.
At the same time, the sentiment towards XRP on its 1-day, 1-week, and 1-month technical analysis (TA) gauges is exceedingly optimistic as well, rating it as a ‘strong buy’ on the basis of its very positive oscillators and moving averages (MA), all recommending a ‘buy’ for XRP.
It is also important to note that the price of XRP often moves in response to the developments around the legal battle that the United States Securities and Exchange Commission (SEC) is still waging against blockchain company Ripple, which it accuses of illegal sales of XRP it considers a security.
All things considered, whether XRP truly manages to meet the machine algorithm’s expectations will depend on multiple factors, including its current price action, sentiment in the wider cryptoverse, Ripple’s successes in the case against the securities regulator, and more.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
