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The XRP price has dropped by 4.81% in the last 24 hours, and constant reds in the candle chart indicate that a crash is on the way.
In light of this, many investors have turned to yPredict, an AI-driven crypto that has raised more than $3.3 million in its current presale.
XRP Drops and Crash May Be Coming
The Ripple (XRP) price has dropped by 4.96% in the last 24 hours. This marks the token’s bearish performance for the fourth consecutive day since August 1st.
At 7:39 am EST, the token was valued at $0.62, accompanied by a 4.98% drop in its market capitalization, now at $33.1 billion. However, there has been a massive increase in its trading volume by 23.9%.
Multiple factors are playing significant roles in Ripple’s current state. It all started when SEC began hinting at appealing the XRP lawsuit ruling.
SEC Hints Appeal in XRP Lawsuit Rulinghttps://t.co/kdTSlxXURz
— MetaNews.com (@metanews_com) July 27, 2023
While most of the community stood behind Ripple despite that, XRP started consolidating around the $0.7 mark during that time with minimum action, which was then followed by a small green candle and then a large red candle.
Another blow to the XRP price arrived after a New York federal judge rejected Terraform Lab’s argument that said Ripple’s ruling invalidated SEC’s case against Terraform Lab.
The news led to a drop of 2.3% in XRP price on August 1st, and even though Stuart Alderoty, Ripple’s Chief Legal Officer, cleared that the Federal court’s rejection changes nothing about the Ripple ruling, the token’s value has been tumbling since.
Let me be clear about some confusion going around – the ruling in the Terra case changes NOTHING about the Ripple ruling that XRP is not a security. Also… https://t.co/PhaVix7HM4
— Stuart Alderoty (@s_alderoty) July 31, 2023
The Crypto Basic reported that another reason behind Ripple’s sub-par performance is the pump US dollar index (DXY)’s experienced since July 27th. Since last week, over 20% appreciation in DXY’s value has also weakened the XRP.
XRP Price Analysis
The XRP price has shown long reds since reaching its 2023’s peak on July 13th.
While there were some green candles, they didn’t persist; long reds overtook them, showing bearish dominance.
From a technical perspective, XRP’s RSI is on the verge of touching the oversold zone. Coupled with a negative MACD, this indicates the community’s disinterest in this token.
However, realizing this token might be undervalued has created some consecutive green candles in the hourly charts. But it is unlikely that XRP will maintain this momentum for long.
Due to XRP’s current volatility, yPredict might be a better investment.
yPredict – A Better Alternative to XRP
yPredict is a presale crypto gaining momentum during the presale that has already raised more than $3.3 million at press time.
An AI-driven token, yPredict offer users an “all-in-one” ecosystem that gives them access to AI signals, sentiment analysis, AI-driven technical analysis, and pattern recognition facilities.
Recently, yPredict has also announced the addition of an AI-backed backlink estimator to help SEO (Search Engine Optimization) professionals.
This new addition accurately predicts backlink accounts and authority metrics to help users make data-driven decisions.
🌟🚀Unveiling yPredict (YPRED) – the ultimate AI-powered platform! 🤖📊
📈 Market sentiment analysis
📉 Chart pattern recognition
📈 Advanced technical indicators
📢 AI-driven buy/sell signalsThat's not all! 💼🔗 An AI-backed backlink estimator for SEO pros & Alt_Pump_001,… pic.twitter.com/FdGDyMWYvV
— yPredict.ai (@yPredict_ai) July 26, 2023
The project is also dropping the yPredict editor soon, which will provide an AI-powered content solution to writers and content creators.
Powered by Polygon, yPredict has a total supply of 100 million. The project has been audited and has received KYC approval.
Visit ypredict.ai to participate in this project’s presale.
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