Many crypto projects continue to trade in the negative zone. XRP, one of the significant projects in the market, is no exception. All chart analyses show that XRP, which could lose the $0.50 level according to artificial intelligence (AI) algorithms, has been on a decline.
How Much Will XRP Be Worth?
In a statement made for XRP, it was announced that Ripple might launch its own stablecoin to start competing with Tether (USDT) and USD Coin (USDC) issuer Circle.
In addition, recent news emerged about a strategic partnership formed with HashKey DX in Japan. Despite all these positive developments, XRP has recorded a decline of over 20% since the beginning of the year, unsettling investors.
Considering all the negative situations in the market despite the positive developments, the data obtained on May 1st did not look very promising.
The crypto prediction platform PricePredictions, using advanced artificial intelligence algorithms, made not very optimistic price predictions for the future, indicating the XRP price at $0.479024 by May 31, 2024.
Based on indicators such as the Relative Strength Index (RSI), Bollinger Bands (BB), Moving Weighted Average (MWA), and similar indicators, it can be said that XRP will experience a loss of 3.27% from its current price at the time of writing.
XRP Price Outlook
As of the time of writing, XRP is trading at $0.4997. According to the latest price review on May 1st, XRP experienced a 3.41% drop within 24 hours, and a 10.16% drop over the past week. Last month, this decline was even more noticeable at 20.43%.
On the other hand, the crypto analyst Dark Defender recently pointed out past price movements of XRP and stated that the price is on the verge of a “big jump” towards $1.88.
However, he also mentioned that a break below the main support level of $0.4623 could lead to even deeper lows.
In the past, Dark Defender also indicated that XRP was following a chart pattern that occurred between 2013 and 2017, which preceded a significant uptrend in XRP’s price.
Potentially, as of May, XRP’s market value could also reach $50 billion, he stated.
Considering the differing views of analyst Dark Defender and artificial intelligence, it will be exciting for investors to see which prediction will prevail.
