State-of-the-Art Machine Learning Algorithm Sets XRP Price for October 1, 2023

The past couple of days appear to show a glimpse of hope in the crypto sphere, as most cryptocurrencies seem to radiate impressive market outlooks. 

At the time when the bear stronghold appeared to persist stronger and longer, XRP was among the most hit cryptocurrencies as it kept shedding profits. The digital asset even fell below $0.5 at some points.

It is worth mentioning that the legal battle between Ripple and the U.S. SEC is yet to be finalized, as both parties are still likely in for another round of court appearances following the approval of the SEC’s request to appeal. A possible disapproval of the interlocutory appeal is also seen as a potential catalyst for XRP price growth.

Read Also: ChatGPT XRP Price Predictions for 2024, 2028, 2032, and 2050

XRP’s Price Prediction for October 1

Data extracted from machine learning algorithm models have set a $0.516146 price for XRP by October 1, 2023. Considering the current price of XRP in the market, the prediction says XRP will continue to change hands at around the $0.51 price level on the first day of October.

As always, the above price projection considered several significant variables and market indices like moving average convergence divergence (MACD), Bollinger Bands (BB), average true range (ATR), relative strength index (RSI), etc.

XRP Market Trends Today – Sentiment From Top Global Charting Platform

At the time of writing, XRP’s data on CoinGecko revealed that the cross-border token is changing hands at $0.518932. It boasts a market capitalization of $27,612,109,407 with a 24-hour trading volume of $876,317,863. 

XRP’s price above implies that there might likely not be any significant changes in the coin’s price by October 1 if the price projection by the machine learning algorithm models plays out. 

On the other hand, the sentiment for XRP on TradingView, a globally recognized charting platform, appears to be positive. According to the outlet, the summary for XRP’s buy, sell, or neutral indications on the one-month gauges pointed at 9, 4, and 9, respectively.

Read Also: Veteran Analyst Shows Why Liquidity Is Needed to Drive XRP Price, Rather Than Narratives

On the Moving Averages scale, the pointer was at 4, 1, and 6 for a buy, neutral, and sell, respectively. Finally, on the Oscillators gauge, the sell, neutral, and buy were placed respectively on points 0, 8, and 3.

The reflections and indications on the different gauges above were said to be influenced by the legal and regulatory concerns hovering around Ripple. 

A positive court hearing for Ripple will most likely shift the indicator toward the buy zone. The opposite would play out if the court hearings failed to favor Ripple. It is left to see how events would unfold.

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