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XRP's potential to reach a triple-digit price has recently garnered attention, with both Changelly and Google Bard predicting when the asset might reach $412.54.
XRP has been one of the biggest casualties of the recent market correction, dropping by 18.24% at the close of January, which is disheartening. XRP failed to capitalize fully on the previous bull run's momentum, but it has been most affected by subsequent pullbacks.
Current Position of XRP
Amid widespread pessimism and gradually fading optimism, with several market analysts continuing to make optimistic forecasts for XRP's price, some investors remain undeterred. Analysts at Changelly also maintain a positive outlook on the future price trajectory of XRP, as evidenced by a report today.
The report first emphasizes XRP's current position, which is in bearish territory. A technical overview of XRP indicates that market sentiment is bearish at 97%. XRP's volatility currently stands at 5.17%, with only 11 winning days out of the past 30.
XRP is currently priced at $0.5190, below the 50-day Simple Moving Average (SMA) of $0.5773, with the 200-day SMA hovering around $0.5560. This indicates bearishness both in the short and long term.
Furthermore, XRP's Relative Strength Index (RSI) currently shows extreme weakness. Nevertheless, at the current value of 34.78, the RSI suggests that XRP may be gearing up for a reversal. Changelly's analysts hold this sentiment, predicting a 34% increase in the asset's price to $0.6796 within three days.
XRP Could Reach $412.54 by 2040
However, analysts believe XRP corrected these gains, ultimately closing at $0.5430 in February. They anticipate the highest price for XRP this year to reach $0.8997, without surpassing the $1 mark.
Their forecasts suggest that XRP will only breach the $1 threshold next year, with the highest price for this year projected at $1.34. According to Changelly analysts, the asset's price could reach double digits at $11.87, the highest price in 2031, seven years later.
XRP Price Predictions | Varied
Additionally, analysts suggest that XRP could achieve a triple-digit valuation by 2040. They forecast an average price of $440.80 for 2040, with $412.54 being the lowest price for a cryptocurrency in 2040. In terms of background, XRP would need to increase by 79,387% to reach $412.54.
When we asked Google's AI service Bard about the timeline for XRP to reach $412.54, the chatbot presented two scenarios. Coincidentally, in the optimistic scenario, Bard predicts XRP will reach $412.54 by 2040, aligning with Changelly's timeline.
XRP Price Predictions | Google Bard
However, in a more realistic scenario, the AI chatbot anticipates XRP reaching this target only by 2050 or 2070. Bard emphasizes that some regulatory changes, unforeseen events, and technological advancements could affect this timeline. |
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Post time 23-2-2024 04:21:36
