Machine Learning Algorithm Sets the Price of XRP for June 30, 2023

Following the new lawsuit filed by the United States Securities and Exchange Commission (SEC) against two of the world’s leading crypto exchanges, Coinbase and Binance, the crypto market seemed to decline more than usual and XRP was not spared this time despite enjoying solo rallies for the past few days.

In a recent development, a machine learning algorithm used by the crypto analytics platform, PricePredictions, gave a possible XRP price for June 30. According to the machine learning algorithm, XRP is expected to trade at around $0.52 on the last day of June.

XRP 30-day forecast. Source: PricePredictions

It’s worth noting that the machine learning algorithm predictions were based on various data analyses, facts, and figures, known as technical analysis (TA) indicators.

Some of the variables considered by this algorithm include moving average convergence divergence (MACD), Bollinger Bands (BB), relative strength index (RSI), etc.

Analyzing XRP Market Prices

As of press time, XRP seemed to fluctuate within the $0.50 selling price range, demonstrating a 6.10% decline in the day and a 0.38% low the previous week. These latest decline records might endanger the advancement of the 8.72% it has achieved on its monthly chart, as per data retrieved on June 6.

Nevertheless, the technical analysis gauges on the finance and crypto market analytics platform TradingView typically depict an imminent bullish run, which implies a ‘buy’ at 13, as summarized from oscillators in the ‘neutral’ zone at 8 and moving averages (MA) pointing at a ‘buy’ at 11.

XRP technical analysis 1-day gauges. Source: TradingView

In one of our reports, Ali Martinez, a renowned crypto trader, revealed the most accurate XRP predictor. According to the crypto strategist, an increase in XRP addresses usually ends in a surge in the price of the digital asset, citing the recent spike in price.

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Chinedu Agbakwusi

Chinedu Agbakwusi is a medical student at the prestigious Nnamdi Azikiwe University with sound knowledge of the crypto space. I am here to be a reliable plug for well-researched crypto content ranging from crypto news to market analyses and blockchain inventions.