A machine-learning algorithm has given out an XRP price prediction for Feb 1, 2023. The forecast indicates that XRP could see a brief spike in price in the next two weeks. However, Ripple’s native token might not climb above its resistance level of $0.40 by the end of January, as per the algorithmic prediction.
Also Red: XRP Bulls Are Aiming For $1, Can It Happen?
XRP’s price is currently trading sideways this week after spiking nearly 12% in the last 14 days. The CPI data-induced rally made the cryptocurrency catapult from $0.34 to $0.40 in less than a week. Nonetheless, it failed to break through its resistance of $0.40 and retraced in price despite the markets attracting bullish sentiments.
Ripple: What Could XRP’s Price Be on Feb 1, 2023?
‘Price Predictions‘, the machine learning algorithm forecasted that XRP’s price could be $0.40 on Feb 1, 2023.
XRP is currently trading at $0.38 and could rise two Cents in the next two weeks, according to the algorithm. The cryptocurrency would move upwards by 2.8% in the next 14 days, according to the AI estimation.
Also Read: XRP Tested $0.40: What’s Next?
In addition, Trading View’s technical analysis points toward a ‘buy’ at 11. The moving average also points towards a ‘buy’ at 10 while the oscillators remain ‘neutral’ at 9.
Also Read: When Will XRP Reach Its All-Time High of $3.40?
On Thursday, XRP’s market cap stands at $19.6 billion after adding $2.5 billion worth of inflows in January 2023. Whales are taking entry positions into the cryptocurrency pushing its price upwards in the indices. Read here to know more details about the whales that purchased and transferred millions worth of XRP tokens.
Also Read: 3 Cryptos to Watch Out for After CPI Data Rally
At press time, the asset was trading at $0.38 and is down 1.2% in the 24 hours day trade. It is also down 88.7% from its all-time high of $3.40, which it reached in January 2018.