The cryptocurrency market has faced a significant correction in the last day, with the global market cap falling 6.6% to $2.7 trillion. Bitcoin (BTC) has witnessed an 8% correction in the daily charts, hovering just above $67k. Other assets, like Ripple’s XRP token, have also faced a similar fate.
XRP’s price has fallen 7.2% in the daily charts. However, the asset is still up 7% in the 14-day charts and more than 21% over the previous month. Moreover, XRP’s price has risen by 68.7% since March 2023. Ripple’s ongoing lawsuit with the US SEC (Securities and Exchange Commission) may have slowed its growth when other assets rallied over the last few weeks.
Also Read: Ripple Eyes 6.5-Year Downtrend Breakout: Can XRP Hit $1?
The latest crypto market correction could be due to higher inflation numbers for February. According to the Federal Reserve, inflation in the US is up by 3.1%, still above the Fed’s 2% target. Higher CPI (Consumer Price Index) numbers may have spooked investors, thwarting the possibility of an interest rate cut in early 2024.
Ripple XRP price prediction for this weekend
According to CoinCodex, Ripple’s XRP could see a rally this weekend. The platform anticipates XRP to hit $0.71 on Mar. 17, 2024 (Sunday). Reaching $0.71 from current levels would translate to a growth of about 12.7%. Moreover, CoinCodex predicts XRP to reach $0.86 on Mar. 19, 2024, a rise of about 36.5% from current levels. However, the asset may face a correction after hitting $0.86.
Also Read: Ripple XRP To Hit All-Time High By Bitcoin Halving: Predicts Analyst
Changelly also paints a bullish picture for XRP for this weekend. The platform anticipates the asset to hit $0.880281 on Mar. 17, 2024 (Sunday). Changelly predicts XRP to trade between roughly $0.80 and $0.85 till the end of this month.
#Ripple #XRP #Price #Prediction #Weekend
#bitcoinnews
