With the introduction of GPT-3 at the end of November, over a hundred million internet users were introduced to artificial intelligence. OpenAI’s latest step has made it possible for people to interact with artificial intelligence, which has been a subject of movies for years. Many popular applications have found ways to simplify tasks through the integration of artificial intelligence.
XRP Coin and Artificial Intelligence
Artificial intelligence is being used for various purposes. It is present in every field, from summarizing long texts to enhancing visual editing in a more professional manner. In fact, in recent months, customer service bots have also started to receive support from artificial intelligence. So why shouldn’t artificial intelligence be utilized in price predictions when it is being used in so many different areas?
Following a summary judgment that ruled XRP is not a security and granted a “partial victory” to its parent company, Ripple, against the United States Securities and Exchange Commission, XRP has once again become a topic of discussion. Although the price quickly exceeded $0.93 following the ruling, this surge did not last long.
XRP Coin Price Prediction with Artificial Intelligence
PricePredictions, a website supported by an advanced machine learning algorithm that provides current and futuristic trends about various tokens, made predictions about the future price of XRP. According to the futuristic price movement of XRP, the artificial intelligence tool foresees an increase from the current price of $0.7. Utilizing MACD, ATR, RSI, Bollinger Bands, and technical analysis, the tool has determined that the upward trend above $0.71 will continue.
The aforementioned victory of Ripple Labs against the SEC undoubtedly sparked significant interest in XRP, especially among institutional investors, and we witnessed that the token surpassed Circle’s USDC and Binance‘s BNB to become the fourth-largest cryptocurrency by market capitalization.
XRP is still far below its all-time high of $3.84 in 2018, and the increasing circulating supply since then weakens the likelihood of reaching the $3.84 price target. In order for the token with a total supply of 100 billion to reach $5, Bitcoin‘s current market value would need to surpass it. This suggests that even if the lawsuit is completely resolved, targets of $2-3 may be unrealistic.
