Data from CoinMarketCap shows that XRP has grown 24.99% over the past year. It is currently ranked #5 according to market cap and has outperformed many coins in the market. However, it is still 84.93% below its all-time high of $3.84 attained in January 2018.
AI-Predicted Price Movement
AI tools are currently dominating the tech landscape and have made their way into the crypto space. These tools have become popular for their ability to process large amounts of data and provide intelligent and accurate results.
Coincodex, a popular crypto-tracking website, hosts a prediction tool that gives forecasts based on past performance. The website tracks 28,420 cryptocurrencies from 428 exchanges and is one of the most prominent aggregators in the crypto industry.
Read Also: After 7 Years of XRP Price Suppression, Analyst Predicts 26,731% Rally to $130, Sets Likely Timeline
Before we look at Coincodex’s prediction, let’s look at some of the highlights of XRP’s recent performance. Coincodex points out that XRP has outperformed 78% of the top 100 crypto assets in the past year and is currently trading above its 200-day simple moving average. Coincodex also highlights XRP’s current high liquidity based on its market cap.
The machine learning AI at CoinCodex suggests a slight increase in XRP’s value by the end of November. The predicted price at the time of writing is $0.621854 by November 30.
It’s worth mentioning that this short-term prediction corroborates the recent Google Bard XRP price forecast for November 30, 2023.
Coincodex lists this as a 7.22% increase and states that the current sentiment for the token is bullish according to technical indicators. This prediction is based on XRP’s past 30 days. 14 days (47%) were spent trading in the green zone with 4.48% price volatility. Coincodex states that now is a good time to buy XRP.
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Read Also: Google Bard Highlights Possible Timeline for XRP Price To Attain New All-Time High
Factors Affecting the XRP Price
The lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC) is the biggest hurdle XRP has faced in the past few years. However, Ripple has continued fighting the SEC and has been victorious on multiple fronts, clearing the regulatory path for XRP.
Ripple CEO Brad Garlinghouse recently criticized the former SEC Chair for hypocritical statements, and many in the crypto industry have joined to criticize the SEC’s current regulatory approach.
The uncertainty surrounding the SEC’s appellate intentions in the XRP lawsuit and the developments related to establishing a Bitcoin spot ETF are additional factors affecting XRP’s price trends. The digital asset is trading at $0.5789. It has shown a modest increase of 3.54% in the past day, and based on Coincodex’s prediction, we could see an increase soon.
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