The crypto community sets the price of XRP for January 31, 2023

XRP price is at a crossroads as it could reverse a multi-year downtrend. Since November 2021, events such as updates to the SEC v. Ripple, developments and announcements made by Ripple on the price of the asset.

The parties have filed their full briefs on all motions as of January 19, 2023. Judge Annalisa Torres has not yet issued her ruling. A decision is expected, according to Ripple CEO Brad Garlinghouse, “sometime in the next single-digit months,” which could be as early as June. Like many other XRP investors, Garlinghouse is confident that the payments giant will prevail in court.

However, the enthusiasm surrounding XRP is not shared by members of the crypto-tracking platform CoinMarketCap, which, using a price estimation function, predicts that XRP will change at an average price of $0.39 on January 31, 2023, according to data obtained by Coinphony on January 23. January.

If the predictions of 1,675 member votes are correct, XRP price will drop -6.96%, or – $0.02928 by the end of the month from its current value of $0.4209 at the time of writing.

XRP community price prediction. Source: CoinMarketCap

Over the past four months, the community has historically seen the price of XRP with a relatively high accuracy of 90.79%, with the last month of December having an overall accuracy rating of 80.02%.

XRP AI price estimate

Using state-of-the-art Artificial Intelligence (AI) tools, PricePreditions’ machine learning algorithm calculates that XRP is expected to trade at $0.4003 on February 1st. Notably, the data captured on January 17 is also lower than the current price of XRP.

As it stands, XRP is trading at $0.4214, up 4.13% in the last 24 hours and another 9.41% in the precious seven days, for a total market cap of $21.4 billion.

XRP 7-day chart. Source: Coinphony

TradingViews Technical analysis indicators (TA) on the one-day scale are currently bullish, and their summary stands for “strong buy” at 16.

XRP 1 day meter. Source: TradingView

These results are compiled from oscillators indicating “neutral” at 8 (with 1 for “sell” and 2 for “buy”). The moving averages meanwhile indicate “strong buy” at 14 (as opposed to “sell” at 0 and “neutral” at 1).

Cryptocurrency trading expert Michael Van de Poppe advertiser Support levels he is looking for with XRP.

“I would like to see $0.395 hold as support. If not, I would look for $0.35 next.”

XRP support. Source: Michael van de Poppe

However, XRP price is at a critical level after breaking above the 30-day, 50-day, and 100-day exponential moving averages (EMA). A break above the EMA indicates buyer interest, and a break from the multi-year descending trend line will allow XRP price to rise above $0.4930.

Warning: The content of this website should not be considered as investment advice. Speculative investments. When you invest, your capital is at risk.

the post The crypto community sets the price of XRP on January 31, 2023 It first appeared on Coinphony.

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