After the sharp rise following the SEC-approved spot Bitcoin ETF, the market had shifted to a recovery phase. The decline that started early today has pulled the price back down to the $42,500 level. This downward trend is also deepening the fall for XRP. However, despite this price drop, machine learning algorithms and artificial intelligence (AI) applications indicate that there will be a recovery in the price by the end of February.
What Will XRP Be Worth?
CoinCodex, known for its recent price predictions, made an XRP forecast on January 31st using machine learning algorithms. According to these algorithms, improvements in XRP’s price could be seen throughout February, potentially reaching $0.5436 by February 29, 2024.
Considering the current state of XRP, if the above price prediction based on past events holds true, XRP, currently ranked sixth in market value, would trade at a price level 7.64% higher than its current price.
XRP Coin Comments
Amidst these predictions, XRP is currently trading at $0.5059, which reflects a 3.64% decrease. Over the past seven days, XRP has seen a 1.53% decline, while the past month’s 18.45% drop has fueled investor anxiety.
During this period, XRP’s trading volume increased by 80% in the last 24 hours, exceeding $1.7 billion, indicating the active trading engagement of its investors. Meanwhile, the overall market volume has decreased by 3.79%, falling below $28 billion.
Previously, XRP briefly surpassed BNB, climbing to the fourth rank, but as of today, it lags behind both BNB and SOL.
On another note, the lawsuit between the United States Securities and Exchange Commission (SEC) and Ripple has entered its third year without resolution.
XRP, at the heart of this case, especially with recent rumors about the blockchain company’s involvement in the ETF space, could delight investors with a new price increase.
