Recently, XRP has gained a lot of attention from traders who were hoping that, in the face of the Bitcoin (BTC)-driven cryptocurrency market and several significant wins in Ripple Labs's legal battle with the U.S. Securities and Exchange Commission (SEC), the cryptocurrency would finally be able to hit its previous all-time highs.
Despite the expectations and the broader trend. Due to XRP's generally lackluster performance, many have questioned if the cryptocurrency will ever hit $1, much less soar above $2, as several technical indicators, like the relative strength index (RSI), have recently indicated. This is especially true when combined with Bitcoin's RSI.
XRP price chart
In fact, the price of XRP has increased by a comparatively small 38.53% over the last 52 weeks and will decrease by 13.91% in 2024, despite the overall growth in the cryptocurrency market. The market hasn't been much more upbeat over the last 30 days, with the cryptocurrency falling by 0.66% during that period.
Comparably, the price of XRP dropped as high as 5.41% during the most recent trading hours; as of this writing, it is trading at $0.54.
In this case, Finbold decided to inquire about XRP's potential performance over the next ten days from PricePredictions, a platform that specializes in predicting cryptocurrency future values using AI-driven predictive machine learning algorithms.
XRP price prediction
It turns out that PricePredictions' predictive algorithms indicate that XRP will, in fact, begin to rise in the following days. On March 1, 2024, they predict that the token will increase by 2.8% and reach $0.553549.
Furthermore, the AI predicts that the surge will continue until the second half of March and that XRP will reach $0.570682 in 30 days, having increased 5.55% overall during that period.
Furthermore, the AI predicts that the surge will continue until the second half of March and that XRP will reach $0.570682 in 30 days, having increased 5.55% overall during that period.
In spite of the optimistic outlook, TradingView's technical analysis (TA) of the token, which is based on the cryptocurrency's performance over the past week and the last 24 hours of trading, indicates that it might be better to sell. In fact, the most recent timeframe is especially negative, as it results in XRP being rated as a "sell" overall, with oscillators classifying it as a "sell" and moving averages classifying it as a "strong sell."
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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