IMPORTANT POINTS:
- XRP has been flat for the past week, virtually unchanged. How much will it trade at the end of the month?
- Investors are waiting for news that will boost the altcoin price again.
- Artificial intelligence indicates that XRP would close the month at USD 0.45, that is, less than the current price.
Although the crypto market benefited thanks to the rise of Bitcoin, XRP accumulates a loss of more than 11% in the last month.
As the altcoin breaks below the $0.50 threshold, investors are expecting some positive news to boost the price of Ripple’s crypto.
In that sense, XRP traders and followers are still waiting for the resolution of the court case against the SEC. Many analysts are optimistic and expect Ripple to win.
The XRP price determined by artificial intelligence
A prominent AI-powered analytics platform such as PricePredictions has set a price of $0.45 for the altcoin on July 31, 2023. This means a decrease to the current price, which is almost $0.47.
To determine that figure, the machine learning algorithm relies on extensive analysis of multiple technical analysis (TA) indicators, including Moving Average Convergence Divergence (MACD), Average True Range (ATR), Bollinger Bands (BB), the relative strength indicator (RSI), and others.
Analysts believe that the cryptocurrency currently has support at $0.44 and a strong resistance level at $0.50, a number that XRP has been struggling to overcome.
However, XRP’s performance has been very good this year, up more than 35%. However, Bitcoin and Ethereum are up the most, at 82.6% and 57.5%, respectively.
