Machine Learning Predicts XRP Price Direction This Week, What to Expect
XRP is at $0.554, up 3% in 24 hours. After falling below $0.6 early in the month, XRP remained in the red for 30 days. In the last 30 days, XRP has fallen 5.3%.
XRP should continue to rise this week, according to CoinCodex, a machine learning algorithm. The newest projection predicts that XRP will rise this week and reach $0.60.
The CoinCodex machine learning system predicts a positive XRP pricing this week. XRP's Fear & Greed Index, a prominent investor mood indicator, is 72, signifying “greed.” After many days in the negative zone, mood has become neutral.
CoinCodex's algorithm considers XRP's technical indicators optimistic. Nine of the 29 major indications included in the research are negative, while 20 are positive. This overwhelming trend toward upward momentum suggests market confidence in XRP's short-term prospects. Based on these indications, the algorithm expects XRP to break $0.60 again this week.
More importantly, CoinCodex expects XRP to rise double-digits this week. The algorithm predicts XRP will conclude the week at $0.635269, a 16% rise from its current price. It would be the first time in a long time that XRP records double-digit weekly increases.
Expectations for XRP This Week
If XRP's price rise matches predictions, it may start a long bullish trend as momentum develops and investors pour in. This week is significant for XRP because solid technical indications and high market sentiment imply more rises.
CoinCodex identified support at $0.540343, $0.534077, and $0.530528 for XRP. Resistance levels include $0.550157, $0.553706, and $0.559972, which might hinder its upward course.
XRP's $0.60 objective is important. The momentum might push XRP to $0.643268 by week's end if broken.
