AI Predicts XRP Coin Price Will Rise to $0.638471 by August 31, 2024

The cryptocurrency market has had a very volatile week. As the uncertainty and risks in the markets increase, investors and traders prefer to stay on the sidelines

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Cryptocurrency markets have had a volatile week. As uncertainty and risks in the markets increase, investors and traders prefer to stay on the sidelines. To give you an idea, we took a look at the AI tool’s forecasts for ADA and XRP Coin, which are of interest to Turkish crypto traders.

AI predicts XRP Coin price for August 31

As you have been following on Kriptokoin.com, the final verdict in the courtroom battle between the US Securities and Exchange Commission (SEC) and Ripple came out, which was eagerly awaited. Following this, the token at the center of the SEC’s accusation of Ripple of illegally selling XRP reacted accordingly. Thus, the predictions are getting better. According to the ruling, Ripple is to pay only a fraction of the compensation demanded for institutional XRP sales. This big win sparked a wave of euphoria in the crypto industry, especially in the XRP community. Thus, this was reflected in the XRP Coin price.

In this context, the advanced artificial intelligence (AI) and machine learning algorithms used by crypto market analysis and prediction platform PricePredictions are predicting further, albeit modest, progress for XRP Coin towards the end of this month. In particular, the algorithm, which relies on technical analysis (TA) indicators such as Bollinger Bands (BB), average true range (ATR), moving average convergence divergence (MACD), relative strength index (RSI) and others, predicts that the XRP Coin price will reach a price of $0.638471 by August 31, 2024. This is an increase of about 9% from the current XRP Coin price of $0.59.

Artificial intelligence predicts ADA Coin price for August 31, 2024

Cardano (ADA) is on the verge of falling out of the top ten digital assets by token market capitalization. However, ADA remains one of the key players in the cryptocurrency market. In the last 24 hours, the coin has gained 1.59% and is currently trading at $0.3474. Cardano has lost 5.85% over the past week. However, it has made a modest recovery since then.

Despite its 24-hour gain, the DeFi token is trading below its 200-day simple moving average (SMA), a key indicator that is often seen as a gauge of long-term market trends and in its current position indicates a prevailing bearish trend. Worse, in the last 30 days, Cardano has recorded only 13 green days, or 24 hours a day, 43% of the time. It has also underperformed 65 of the 100 largest crypto assets over the past year. PricePredictions’ AI analysis shows that by the end of August 2024, Cardano’s price will fall to around $0.299. This represents a decline of about 12% from its current price.

The forecasts in the article are taken from a prediction tool based on artificial intelligence algorithms. Opinions and predictions are not investment advice. As Kriptokoin.com, we strongly recommend that you do your own research before investing.

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