Numerous cryptocurrency projects are currently experiencing declines in the market, including XRP. Recent analyses indicate that XRP is at risk of dropping below the $0.50 mark based on artificial intelligence predictions, leading to a downward trend in its value.

In response to XRP's performance, Ripple has hinted at launching its stablecoin to compete with Tether and USD Coin issuers. Moreover, a strategic partnership with HashKey DX in Japan has been established. Despite these positive developments, XRP's value has decreased by more than 20% since the beginning of the year, causing concern among investors.

Despite positive news, recent data trends have not been favorable for XRP. PricePredictions, a crypto prediction platform, forecasts an XRP price of $0.479024 by May 31, 2024, based on various indicators such as the Relative Strength Index (RSI) and Bollinger Bands.

Currently, XRP is trading at $0.4997, with recent drops of 3.41% in 24 hours and 10.16% over the past week. Dark Defender, a crypto analyst, suggests a potential price surge towards $1.88 but warns of deeper losses if the main support level of $0.4623 is breached.

Dark Defender has compared XRP's current price movements to past trends, hinting at a possible significant uptrend in price. He predicts that XRP's market value could reach $50 billion. Investors are eagerly watching to see whether Dark Defender's or artificial intelligence's predictions will come true.

This content originally appeared on COINTURK NEWS.