London, United Kingdom – Matthew Dixon, the CEO of Evai, an AI-based cryptocurrency evaluation platform, has made a bold prediction regarding XRP’s future based on recent on-chain data analysis.
According to Dixon, Evai’s platform has detected a significant uptick in XRP’s trading volume, suggesting a growing interest in the cryptocurrency. He anticipates that this rise in trading volume could potentially lead to a surge in XRP’s value, advising investors to prepare for potential surprises in the market.
The latest data reveals that XRP recorded a 24-hour trading volume of $2.15 billion on April 5, marking a nearly 42% increase from the previous day. CoinMarketCap data also shows that XRP’s 24-hour trading volume currently stands at $938 million, with a total trading volume of $11.94 billion over the past week.
This surge in trading volume comes following Ripple’s announcement of its entry into the $150 billion stablecoin market by launching a stablecoin on the XRP Ledger and Ethereum. The news sparked initial excitement in XRP’s price, pushing it to $0.61 before retracing below the $0.6 mark.
Matthew Dixon, buoyed by the $2.15 billion trading volume figure, remains optimistic about XRP’s potential for a significant rally amidst growing interest in the cryptocurrency. Other experts, such as Rob Cunningham, have also expressed bullish sentiments towards XRP’s outlook in light of recent developments.
Cunningham has even projected that XRP could reach $12, citing Ripple’s entry into the projected $2.8 trillion stablecoin market as a key driving factor. However, not all industry experts share this optimistic view, with some, like Panos Mekras of Anodos Finance, offering dissenting opinions on XRP’s future trajectory.
Ultimately, as market dynamics continue to evolve and new developments unfold, investors in XRP are advised to conduct thorough research and exercise caution in their decision-making process to navigate the cryptocurrency landscape effectively.