Xai Price Prediction 2024: XAI Price Analysis

Key Takeaways

• Xai launched its XAI coin on January 9, 2024.
• The XAI price has fallen since March 11, reaching a new all-time low in July.
• Our price predictions suggest a temporary bottom for XAI is close.

The world of cryptocurrency is always evolving, and there are always new coins and tokens emerging. One such project is Xai (XAI), a cryptocurrency designed specifically for gamers.

Xai is based on the Arbitrum (ARB) Layer-2 platform, which makes it fast and efficient. This means that users can, at least in theory, trade and exchange in-game items without having to worry about slow transaction times or high fees.

The Xai network is also open and decentralized, which means that anyone should be able to participate in its governance. This gives gamers a say in how the network is developed and maintained.

Xai did not immediately respond to a request for comment

On July 9, 2024, the XAI price was $0.347. Now, let’s take a look at our own XAI price prediction, made on July 9, 2024. We will also examine the XAI price history and talk a little about what XAI is and what it does.

Xai Price Prediction

There are two methods used to create our price predictions. More specifically, they are created using fractals (mirroring movements and indicator readings) and the wave count.

However, since XAI only has price history going back to March 2024, only the wave count method will be used. 20% will be added to the targets to end up with our maximum and minimum XAI coin price predictions.

The most likely XAI price prediction suggests the price has completed a downward A-B-C corrective structure starting in March. The decline led to a new all-time low of $0.27 on July 5. The XAI price has increased since. If the count is accurate, waves A:C had an almost 1:1 ratio, giving credence to the wave count.

Shortly after the launch in January, the price completed a five-wave upward movement with a magnitude of 260%. If a similar increase follows that has the same duration as the correction, XAI will reach a high of $0.95 in October.

Since there is insufficient data to make a prediction for after the date, we will use the rate of increase until then to make a XAI crypto price prediction for the end of 2024, 2025 and 2030.

In the 293-days since its launch, XAI has increased by 58%, for a rate of increase of 0.19% per day. Projecting this increase until the end of 2024, 2025 and 2030 gives targets of $1.20, $1.70 and $4.75, respectively.

Xai Price Prediction for 2024

Our wave count price prediction suggests XAI will trade between $0.96 and $1.44 by the end of 2024.

Xai Price Prediction for 2025

Our wave count price prediction suggests XAI will trade between $1.35 and $2.05 by the end of 2025.

Xai Price Prediction for 2030

Our wave count price prediction suggests XAI will trade between $3.85 and $5.65 by the end of 2030.

XAI Price Analysis

The daily time frame XAI price chart shows a decline under a descending resistance trend line since the all-time high of March. As outlined in the previous section, the decline likely contains an A-B-C corrective structure.

Technical indicators in the daily time frame also suggest the decrease has ended. This is because the daily MACD has generated a significant bullish divergence (green) while the daily RSI just moved outside its oversold territory (green icon).

So, it is possible XAI has started an upward movement toward the descending resistance trend line at $0.60.

Short-Term XAI Price Prediction

The XAI price prediction for the next 24 hours depends on the assumption that the price has started an upward movement toward the descending resistance trend line. However, the price is currently trading inside an ascending parallel channel. The rate of increase cannot accelerate until XAI breaks out from this channel.

So, the XAI price prediction for the next 24 hours indicates XAI will trade in the channel’s upper portion, possibly at $0.37. Then, the price will likely reach the channel’s resistance trend line at $0.42 by the end of the year.

XAI Average True Range: XAI Volatility

The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days.

A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels.

XAI’s daily ATR is at 0.05, implying low volatility. It has fallen since its all-time high of 0.26 in January. As a proportion of the $0.35 XAI price, the ATR is 0.166.

XAI Relative Strength Index (RSI): Is XAI Oversold or Undersold?

The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold.

Movements above 70 and 30 show overbought and oversold conditions, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish.

XAI’s daily RSI is at 36, a sign of a bearish trend. However, it is worth mentioning that the indicator trends upward and recently moved outside of its oversold territory, both seen as signs of a bullish trend

XAI Market Cap to TVL Ratio

The Total Value Locked (TVL) to market cap ratio   measures the valuation of a decentralized finance (DeFi) project by comparing its market capitalization to the total value of assets locked in its smart contracts. This ratio shows the project’s utilization and links the platform’s health to the value of locked assets.

A ratio above 1.0 indicates overvaluation because the market cap exceeds the value of assets used in the platform. A ratio below 1.0 indicates undervaluation because the market cap is lower than the value of locked assets.

On July 9, 2024, the XAI TVL ratio was 79, indicating massive overvaluation.

XAI Price Performance Comparison

XAI is part of the gaming ecosystem, so let’s compare it to similar projects.

Best Days to Buy XAI

We took a look at the Xai price history and found the times when the price was at its lowest across certain days, indicating the best times to buy XAI.

XAI Price History

Now, let’s examine the Xai price history . While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret an Xai price prediction.

XAI first came onto the open market on January 9, 2024, when it was worth about $0.6767. It went up steadily, breaking past $1.20 on January 17, 2024. XAI then increased further, hitting an all-time high of $1.68 on March 11.

However, the price has fallen since, culminating with a new all-time low of $0.26 on July 5.

XAI Market Cap

The market capitalization, or market cap, is the sum of the total number of XAI in circulation multiplied by its price. On July 9 2024, XAI’s market cap was $97 million, making it the 388th largest crypto by that metric.

Who Owns the Most Xai (XAI) Tokens?

As of March 22, 2024, the five wallets with the most Xai tokens  were

• 0x5400f813c90880cb516ece7312fb9094feb2f101. This wallet held 167,199,863 XAI, or 13.67% of the supply.
• 0x3aecfc9d1b0d983953508a6583d5fc6aab8fa956. This wallet holds 151,913,956 XAI, or 12.42% of the supply.
• 0x20aabb9e85b3e47c654aecbb2a3bd0c1af977996. This wallet held 107,421,875 XAI, or 8.78% of the supply.
• 0x2444c4054a66a07300d50ac783c4dd1f2228e38e. This wallet held 107,421,875 XAI, or 8.78% of the supply.
• 0x1f941f7fb552215af81e6be87f59578c18783483. This wallet held 101,069,260 XAI, or 8.60% of the supply.

XAI Supply and Distribution

From the Whitepaper

In its technical documentation, or whitepaper , Xai says it was developed to enable real economies and open trade in the next generation of video games.

With Xai, potentially billions of traditional gamers can own and trade valuable in-game items in their favorite games for the first time, without the need to use crypto-wallets. Anyone can support the Xai network by operating a node which allows them to receive network rewards and participate in governance.

How Xai Works

Xai  empowers traditional gamers to participate in open trade, allowing them to trade in-game items in their favorite games without the necessity of interacting with crypto wallets. The Xai network is open and decentralized, enabling anyone to operate a node, receive network rewards, and participate in governance.

Is Xai a Good Investment?

It is hard to say. The token’s price has shot up after its launch, but there may already be signs of a downturn.

On the other hand, there are good reasons for Xai’s recent price surge, with new developments getting investors attention.

As always with crypto, you will need to make sure you do your own research before deciding whether or not to invest in XAI.

Will Xai go up or down?

No one can really tell right now. While the Xai crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.

Should I invest in Xai?

Before you decide whether or not to invest in Xai, you will have to do your own research, not only on XAI, but on other coins and tokens. Either way, you will also need to make sure that you never invest more money than you can afford to lose.

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About the Author

Valdrin Tahiri

Valdrin discovered cryptocurrencies while getting his MSc in Financial Markets from the Barcelona School of Economics in 2017. He has been an avid investor and trader since. Valdrin has written for several cryptocurrency media companies such as BeInCrypto and CoinGape.

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