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Cryptocurrency News Articles
When Will XRP Hit $1? AI Predicts 2025 as SEC Case Ends, ETF Rolls Out and BTC Halving Takes Effect
Nov 04, 2024 at 10:31 pm
XRP has struggled to move toward the $1 mark for years, with the token predominantly consolidating below $0.60. The asset has generally failed to keep up with peers
XRP has been trading sideways for a while now, showing little sign of moving toward the $1 mark. Several factors could be hindering XRP’s inability to clinch the $0.5286 resistance level.
One potential barrier is technical resistance. XRP is currently trading below the 50-day and 200-day moving averages, indicating a bearish trend on the technical front.
For XRP to reach $1, it needs to break through several resistance points in the short and long term.
According to an analysis shared by Dark Defender in an X post on November 4, XRP showed a bounce from a long-standing support level around $0.50 as the October monthly candle closed, displaying promising resilience on the daily chart.
Currently, the token is showing strength on daily timeframes with oversold indicators, suggesting potential upward momentum. However, caution is advised as weekly and monthly trends still show XRP in the red.
In this regard, key XRP price levels to monitor include resistance points at $0.5286, $0.6044, and $0.6649, while support levels stand at $0.4864 and $0.3917.
XRP price analysis: Could the token reach $1 soon?
X post picks for you
As XRP continues to trade below the crucial $1 mark with no clear indication of when it might reach this valuation, Finbold decided to consult artificial intelligence to gain some insights.
We used OpenAI’s ChatGPT-4o artificial intelligence tool, which provided several scenarios that could influence XRP’s move to this price point.
To begin with, the AI tool noted that XRP would be influenced by the general market, especially as the full effects of the Bitcoin halving are felt, which has the potential to drive altcoins higher.
At the same time, the AI platform cited regulatory clarity, which would likely usher in institutional interest in the asset.
Finally, ChatGPT pointed out that XRP could benefit from the projected altcoin market peak in the coming months. If these factors align, XRP could trade at $1 by early to mid-2025.
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The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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