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Historically, XRP has maintained an average growth rate of 19.2% in March for the past 11 years. As per Cryptorank data, XRP’s growth is currently at 11.6% as the month eyes its last trading week.
XRP outlook and projected boost
However, analysts predict that XRP could still rise and close the approximately 8% gap in growth figures and estimates. XRP has posted in the green for four consecutive years and closed in March 2023 at a 43% high.
If XRP maintains an upward trajectory, it could hit $3 before the end of the month. However, such a growth trajectory may only come if XRP surges past its monthly average of 19%.
Tomiwabold OlajideAs of this writing, XRP has rallied by 0.11% to trade at $2.39 within the last 24 hours. However, the coin has not risen further due to investors' capital pullback in the asset.
In the same time frame, trading volume declined 40.41% to $2.5 billion. However, experts insist that XRP has what it takes to soar higher, given the positive sentiment that followed the Securities and Exchange Commission's (SEC) dropping the Ripple lawsuit appeal.
XRP proponents believe that, given the legal uncertainty surrounding XRP, institutional investors may now feel comfortable committing funds to it.
The pending XRP ETF filings may also receive regulatory approval, further increasing the coin's long-term value.
XRP’s technical indicators point to strength
Gamza KhanzadaevMeanwhile, XRP’s technical indicators signal a golden cross supported by its 23-day moving average crossing above the 50-day curve from below. This development often indicates an upward trend and a cause for optimism.
While market observers remain cautious in their optimism, XRP has remained resilient in the crypto space over the last 30 days of the market downturn. The asset could further push boundaries to reclaim $3.
Vladislav Sopov
Dan Burgin