The end of the much-publicized dispute between Ripple Labs and the US Securities and Exchange Commission (SEC) is approaching, and investors expect a favorable verdict in the case against the financial regulator. Strong on the value of the upcoming XRP.
Artificial intelligence (AI) has recently gained traction with tools such as OpenAI’s ChatGPT, and investors are now turning to in-depth learning algorithms to help predict the direction of cryptocurrency values.
Price forecast In particular, machine learning algorithms predict that XRP will continue its positive trend from January to the end of February. The price of the token will rise to $ 0.405 on February 28 before rising again in March.
Artificial forecasting uses various technical indicators such as Bollinger Bands (BB), Moving Average (MA), Moving Average, convergence divergence (MACD), Relative Strength Index (RSI) and more. The price forecast represents a 0.87% increase in the price of the token at the time of printing.
XRP Price Analysis
XRP is currently trading at $ 0.4019, down 0.24% in the last 24 hours and a further 4.76% last week. When things stand still, XRP has a significant support level around $ 0.36503, while the initial resistance area is at $ 0.42611.
The Bulls are watching XRP closely for a breakthrough during the long consolidation of tokens. Market participants who believe that the price of XRP will fall may be responsible for the recent price stabilization by dropping tokens in large quantities.
On the other hand, XRP seems to have responded to this attempt by creating huge demand for the currency and buyers are willing to accept large sales orders.
The XRP technical analysis on TradingView is mixed with a summary corresponding to the ‘buy’ feeling at 13, while the moving average is for ‘strong buy’ at 13. Oscillators are pointing to ‘neutral’ with 8.
Meanwhile, with judgments still unknown, legal experts are still estimating the potential outcome of the case and its impact on the cryptocurrency industry.
Disclaimer: The content on this site should not be construed as investment advice. Investment is an estimate. When investing, your capital is at risk.
