Ripple’s (XRP) price is expected to fluctuate in March 2023, according to cryptocurrency price predictions. In the meantime, the price of Ethereum (ETH) may outperform that of Bitcoin (BTC). And it is anticipated that the price of Stacks (STX) will continue to rise quickly.
The crypto market had a relatively bullish month in February 2023, and March 2023 might continue that trend. Here are the top three cryptocurrency price predictions from TechX Pakistan for March 2023.
With a 24-hour trading volume of $22,793,001,012 USD, the current live price of one bitcoin is $23,396.41 USD. In the previous day, Bitcoin has decreased by 1.42%.
With a live market cap of $451,632,022,048 USD, CoinMarketCap is now ranked #1.
Ripple (XRP) Price Predictions
From June 2022, the price of XRP has been moving within a long-term symmetrical triangle. The price of ripple is now getting close to the point where resistance and support converge.
The XRP price is then expected to make a significant movement outside of the pattern. Considering the consolidation has been ongoing for a while, once Ripple exits its technical structure, a large movement is anticipated.
The price of Ripple could rise to at least $0.43 and possibly $0.52 if it breaks out. Nevertheless, if it falters, a decline to $0.30 might come next.
Technical indications and the price activity of XRP are both neutral, thus both remain conceivable.
Ethereum (ETH) Price Predictions, can outperform BTC
The native token of the Vitalik Buterin-developed Ethereum blockchain is called ETH. It is the second-largest cryptocurrency in the market after Bitcoin based on market capitalization.
The trading pair for ETH/BTC paints a picture of bullishness. Predictions indicates that the price of Ethereum is probably going to outperform the price of Bitcoin, and here’s why:
First off, since October 29 the price of ETH has been trading in a parallel declining channel. Such channels typically have corrective moves, indicating that a breakout will eventually occur.
Second, over the past month, the price of Ethereum has produced a bullish divergence (green line). Its significance is further increased by the fact that the divergence occurs directly at the channel’s support line.
It would make sense that the divergence, which has been growing for more than a month, will cause the price of ETH to rise upward for the entire month.
The most likely outcome is an increase towards at least the resistance line of the channel, which is at ₿0.077. A break-through from the channel, however, would disprove this bullish theory.
If that happens, predictions for the price of ETH relative to BTC might drop below the 0.618 Fib retracement support level at around ₿0.063. (white line).
Stacks (STX) Price Predictions, Moving Above $1.50
One of the biggest gainers of the year has been the price of stacks, which has risen by 275% so far. Although there has been a significant gain and a parabolic rally, the rising trend could not yet be complete.
Both the RSI and the wave count show this. Although the former is overbought, no negative divergence has yet been created.
Wave three is indicated by the pattern of the increase. Consequently, despite the possibility of a brief decline in STX price, an additional rise is anticipated to finish the rising trend.
The $1.55 resistance level, which has not been achieved since April 2022, could be reached by the Stacks price if wave five also continues to advance.
However, a decline below the $0.33 high of wave one (the red line) would invalidate my bullish wave count for STX pricing. The Stacks price might then decrease to around $0.20.
To read our blog on “Binance stopped transferring payments in dollars from Feb 8,” click here.