XRP was trading around $0.46 cents this morning on Tuesday, May 2. Although the price of the sixth-ranked cryptocurrency by market cap is up about 38% year-to-date, it was only in the green last week and down about 10% over the past 30 days.
The largely flat returns for the coin in the seven-day period come as Bitcoin, the world’s largest cryptocurrency by market cap, hovered around $28,000. The BTC price settled at this crucial level after retesting resistance near $30,000 this weekend on banking news related to troubled First Republic Bank ( NYSE: FRC ).
As XRP and other major altcoins look for a base, the presale of AltSignals (ASI) continues to attract strong investor interest. According to analysts, the XRP token and ASI seem to have to a greater chance of crypto outperformance over stocks in the coming months.
XRP Price Prediction: the Big Wait for XRP Rally
XRP price briefly entered positive territory on the 24-hour record overnight Monday, but failed to take off even after the rumors. This is likely due to sentiment checking after comments from Deaton and others, which one XRP trader noted as in the tweet below.
If the #Ripple and SEC rumors were actually true then #XRP would be skyrocketing.
Therefore, the XRP token currently sits near the key support base below $0.47 cents. Even then, the expectation is that a win for Ripple Labs in the coming weeks could trigger a massive explosion for XRP, while a win for the regulator could not only affect XRP, but many other coins recently highlighted as values by the agency.
On the positive side, demand leading to renewed buying pressure for XRP amid a bullish market outlook for cryptocurrencies could catapult the value of XRP to the psychological $1 dollar.
After that, targeting the all-time high of $3.40 reached in January 2018 could offer XRP bulls a chance to catch up with their peers after lagging behind 10 other major coins in the latest bull market.
AltSignals and its New AI-powered Trading Platform
Market watchers continue to hold optimistic predictions for cryptocurrencies as the broader market moves into the second half of 2023. And as May begins, one of the projects receiving renewed attention is AltSignals, a leading trading signals provider that is set to revolutionize the trading industry with a new AI-powered update.
To power the new ActualizeAI platform, the AltSignals team has launched ASI. ASI token holders will be the first to gain access to the new AI algorithm. In addition to access to the AI layer, the community will also benefit from many other avenues to gain rewards from their participations, including in the membership club and trade tournaments.
Currently, the platform serves more than 50 000 traders using its trading signals in cryptocurrencies, stocks and forex. The AltSignals team is taking this already successful business one step closer to niche dominance by incorporating AI tools, and the new model also leverages the latest in machine learning and natural language processing.
Once launched, ActualizeAI will greatly increase the accuracy of AltSignals’ trading signals, enhancing traders’ experiences and delivering huge benefits to members.
AltSignals price prediction: Is ASI a good opportunity?
By Marina Meza
