As the end of the year approaches, many cryptocurrency investors are focused on the upcoming Christmas holiday. During this period, investors are also closely following XRP with high expectations for a major increase. XRP has shown upward trends during holiday seasons in the past, making it an attractive investment opportunity for those seeking short-term gains.
Artificial Intelligence’s XRP Price Forecast
An AI application used by PricePredictions conducted an analysis to predict the potential price movement of XRP towards Christmas. PricePredictions’ machine learning algorithm is known for predicting cryptocurrency prices based on historical data and technical analysis.
According to the algorithm, XRP is expected to reach $0.618231 by the end of December, which is not significantly higher than its current price of $0.6117.
While predicting cryptocurrency prices can be challenging due to market volatility, artificial intelligence tools are considered superior as they can process and analyze large amounts of data in the same short period and identify details that analysts may overlook.
The Future of XRP Coin
Contrary to the price prediction made by AI, many analysts have higher expectations for an increase in XRP. According to CoinsKid, a more promising scenario exists for XRP, and the bullish reversal is expected to happen.
According to the analyst, a sell signal has formed at $0.64 for XRP since November 16. CoinsKid currently expects the completion of the Inverted Head and Shoulders formation, which can be interpreted as a potential indicator of the expected bull reversal. The analyst also adds that they expect a buy signal depending on the completion of this formation.
However, according to the analyst, if XRP falls below $0.5752, the expectation of an increase will be invalidated. The cryptocurrency has experienced a 1.58% increase in the last 24 hours, and if this momentum continues, it can lead to a significant price movement.
Another prominent analyst, EGRAG CRYPTO, recently shared a price prediction for XRP. As mentioned before, according to the analyst, the price of XRP can rise up to $27.
The analyst also mentions that there may be pauses in the price movement between $6 and $7 as resistance before reaching $27. However, EGRAG expects XRP to drop to $0.55 before this price movement occurs.
- Artificial intelligence predicts XRP price to reach $0.618231 by the end of December.
- Analysts have higher expectations for an increase in XRP, with a potential rise up to $27.
- If XRP falls below $0.5752, the expectation of an increase will be invalidated.