The Securities and Exchange Commission (SEC) and Ripple Labs have been engaged in a legal battle for over three years, which is gradually nearing its conclusion. This has reignited interest and hopes in XRP, despite the long-standing pressure on XRP that potentially hindered its rise in the March 2024 rally. There are opinions suggesting that XRP could rise above $0.62 in the future. Additionally, artificial intelligence algorithms have updated their price predictions at the beginning of the month.
Will XRP Price Rise?
Cryptocurrency investors are optimistic about a price increase post-halving, although the predictions by PricePredictions’ algorithms at the beginning of the month indicate a rise, they still show that the expected levels are far off. The platform’s prediction emphasizes that the weak price movement, influenced by the pressure on the token, will continue, and the next trend will be downward.
According to the data provided by the artificial intelligence algorithm on May 13th, XRP appears to be preparing for a slight but steady decline after a limited and largely weak fluctuation, with the token expected to drop to $0.487329 by the end of the month. Today, the XRP price continues to trade at $0.5065. Looking at this price prediction, a 3.63% decrease is anticipated in XRP over a two-week period.
Analyst’s View on XRP Price Movement
On the other hand, market experts seem to disagree with the algorithm’s predictions. A well-known XRP analyst, who posts under the name Dark Defender on X, highlighted the upcoming super trend in XRP and set forth price targets of $1.88, $5.85, and $18.22.
- The first wave started at $0.3000 on January 23rd
- The first wave ended at $0.9327 on July 23rd
- The second wave began at $0.8534 on August 23rd
- The second wave ended at $0.4294 in April 2024
- The third wave targets are $1.88, $5.85, and $18.22
Dark Defender also pointed out that the listed price targets are related to the ongoing super cycle. In another post, the XRP analyst emphasized a 9-stage potential journey that would indicate the token’s movement to new and previously unreached high levels.
