Recent developments in the cryptocurrency market have placed XRP in a notable position. With the asset currently on a positive trajectory, we’ve consulted the advanced machine learning predictions from PricePredictions, a prominent cryptocurrency analytics platform, to see if the digital asset can sustain this momentum till the end of the month.
According to PricePredictions’ AI-powered algorithm, XRP could reach $2.7 by January 31. XRP is trading at $2.83 after a notable rally on January 14 pushed it above the $2.6 resistance level.
After years of struggling under the pressure of the Ripple lawsuit, XRP experienced a notable breakout in November and December 2024. The digital asset climbed to its highest price in years, crossing the $2 level and turning it into a strong support level.
The surge began in November following Donald Trump’s victory in the U.S. Presidential election. In late November, Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), announced that he would resign in January, giving XRP a notable boost. The asset sustained this momentum into December when it finally breached the $2 level.
The forecasting algorithm incorporates multiple technical indicators including the Moving Average Convergence Divergence, Relative Strength Index, and Bollinger Bands. Although XRP recently showed a death cross, most of its technical indicators are bullish, and recent technical formations suggest an immediate bullish future.
The platform’s analysis also extends beyond the immediate timeframe, indicating a potential for XRP to exceed $3 in mid-February. Reaching this target would mark XRP’s highest level since 2018. However, PricePredictions cautioned about a subsequent correction.
Several significant events on the horizon could influence XRP’s price trajectory. The most notable upcoming event is Donald Trump’s inauguration as the United States President, widely regarded as cryptocurrency-friendly.
On January 1, XRP community members expressed excitement for this event with a memo on Ripple’s escrow release, and the broader crypto world is eagerly anticipating the inauguration.
Independent analysts have contributed complementary perspectives to these algorithmic predictions. Renowned crypto investor Armando Pantoja recently predicted a rally to $4 based on a symmetrical triangle formation, and the market is full of extremely bullish predictions for XRP in the short and long term.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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