Like all crypto assets, XRP isn't in the best of conditions, but the general market outlook is spouting bearish potential for top cryptocurrencies including Bitcoin (BTC) and Ethereum (ETH). This is quite understandable considering that it looks like
As often happens in the field of cryptocurrencies, the current situation will sooner or later turn for the better, resulting in an increase in the prices of some cryptocurrencies.
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In the case of XRP, potential price spikes following a positive market reversal have always been hampered by legal disputes involving Ripple, XRP's primary distributor, and the U.S. Securities and Exchange Commission (SEC), with crypto Compounding the asset challenge.
Amid the uncertain outlook, XRP enthusiasts remain hopeful for a great future, as all signs seem to point to the court's final ruling potentially coming before the end of the year.
While we anticipate the court's ruling, a glance at XRP's price before the end of the month could help coin enthusiasts keep a close eye on their favorite coin assets.
Therefore, in the subsequent part of this insight, we will reveal what the artificial intelligence (AI) model employed by the popular crypto price analysis platform PricePredictions thinks about the price of XRP on May 31, 2024. Become.
AI model predicts XRP to fall below $0.5 by end of month
According to machine learning algorithms, XRP may have been able to avoid periods of high volatility.However, in the future Outlook Conditions will continue to be tough, and the price decline will reach a climax, with the coin selling for less than $0.50 on May 31st.
The machine learning model that predicted a specific month-end target price for XRP predicted a slight secular decline, with XRP falling to around $0.48 on May 31st.
Meanwhile, the price of XRP at the time of reporting was around $0.52, reflecting an increase of 0.4% over the past 24 hours. A potential drop to $0.48 would mean a 7.69% drop in the coin’s price on May 31, 2024.
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AI price predictions go against market experts’ predictions
Contrary to machine learning algorithm price predictions, several crypto experts are predicting a bullish future for XRP, citing some analysis and past market cycles.
somewhere else news In this article, noted market analyst Cryptobilbuu cites the previous market trend of XRP that reached an all-time high (ATH) of $3.3, and that XRP reached $33 and then surged to $589. predicted a similar rise.
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