Machine learning algorithm predicts XRP price on May 31, 2024

As the long-standing legal battle between the Securities and Exchange Commission (SEC) and Ripple Labs appears to be entering its final chapter, interest in and hopes about XRP are again mounting.

Indeed, there is widespread belief that the conclusion of the case – which has been weighing heavily on the token for years and has, arguably, prevented it from following the rest of the crypto market in its 2024 rally – investors are turning toward hopes that XRP might soon surge toward $0.62 and beyond – heights seen only briefly in mid-March.

Still, with uncertainty persisting for the time being with XRP battling to hold above $0.50, Finbold decided to seek at least some clarity by looking at the cryptocurrency forecasts offered by the AI-driven machine learning algorithms of a platform specilized in making asset price predictions – PricePredictions.

Predictive algorithms set XRP price for the end of May

While crypto traders are holding on to optimism, PricePredictions’ algorithms have little good news for the bulls.

Indeed, while the platform estimates that the token has left its highly volatile days behind for the time being, the looming trend is predicted to be bearish.

Per the data retrieved on May 13, the algorithm’s forecast XRP is set for a slight but protracted decline – with limited and largely inconsequential volatility – that will see the token drop to $0.487329 by the end of the month.

Given that XRP price today stands at $0.505731, the platform is forecasting a 3.637% drop over the course of two and a half weeks.

Crypto experts see bigger moves ahead

Experts, however, apparently largely disagree with the algorithm’s prediction, with a prominent XRP analyst known on X as Dark Defender recently explaining that while the current situation remains challenging, the price targets for the upcoming supercycle waves run high at $1.88, $5.85 and $18.22.

1. Wave 1 started in Jan-23 @ $0.3000

2. Wave 1 ended in Jul-23 @ $0.9327

3. Wave 2 started in Aug-23 @$0.8534

4. Wave 2 ended in Apr-24 @$0.4294

5. Wave 3 targets $1.88, $5.85 and $18.22

Dark Defender also clarified that the listed targets are for the ongoing supercycle while the general ‘gigacycle’ will see the token surge even higher with one post indicating that the ultimate price target stands at $333 on the low end.

The XRP expert, in a separate post, also outlined the token’s 9-phase likely journey to new and unprecedented highs.

These include an ultimate decision in Ripple’s ongoing legal battle, the arrival of the company’s stablecoin, developments such as Blackrock’s Larry Fink recently saying that tokenization will be ‘the next generation for markets,’ all leading up to XRP in ‘in Grand Wave 3.’

It is worth noting, however, that the journey also assumes a definitive decision that XRP is not a security – a decision that is not certain, at the time of publication.

Around the same time, another expert, Matthew Dixon, CEO of the crypto rating platform Evai, pointed toward another factor that might see XRP surge.

#XRP has been lagging lately but like many other tokens, weaker #CPI next week should awaken the sleeping giant and propel $XRP higher. pic.twitter.com/FEvUZiG7RM

— Matthew Dixon – CEO Evai (@mdtrade) May 10, 2024

According to Dixon, the CPI report – scheduled for the ongoing May 13 to May 20 week – could also propel the token provided the figures are weaker than expected.

While refraining from offering a price target, the analyst’s description of XRP as a ‘sleeping giant’ offers a strong bullish hint.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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