Artificial intelligence calculated the price of XRP on May 1, 2024
Due to an ongoing legal dispute between the Securities and Exchange Commission (SEC) and Ripple Labs, XRP was unable to benefit from the cryptocurrency market rally in 2024, failing to achieve meaningful growth.
On the evening of April 19, the price of XRP fluctuated around $0.50, having increased by about 1% in 24 hours. However, this minor gain pales in comparison to the fact that the token has lost almost 5% over the past seven days.
This may be why a cryptocurrency expert known as CoinsKid has provided a bearish outlook for the future of XRP.
The analyst argues that XRP's recent price action reflects a failed bullish breakout turning into a significant decline, confirming that there is no price trigger for the rally attempt.
Key XRP Levels to Watch In the current environment, the cryptocurrency finds a key support level at $0.438, followed by a more bullish resistance level at $0.550.
According to artificial intelligence (AI) algorithm forecasts, a bearish trend for XRP is expected in the long term, suggesting a decline of 12.55% to $0.432 by May 1.
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