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XYO Price Prediction 2024: XYO Price Analysis

Last Updated
Valdrin Tahiri
Last Updated
By Valdrin Tahiri
Edited by Peter Henn
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Key Takeaways

  • The XYO Network (XYO) launched a new roadmap in December 2023.
  • The XYO price trades over 90% below its all-time high.
  • Our XYO price predictions forecast a lengthy downward trend.

The XYO platform’s native token made headlines  for all the wrong reasons when the United States Securities and Exchange Commission (SEC) accused it of being an unregistered security in 2022.  XYO launched  its latest roadmap in December 2022.

On Aug. 23, 2024, XYO exchanged hands for $0.0047.

Let’s examine our price predictions for XYO, made on Aug. 23, 2024. We will also investigate the XYO price history and discuss what XYO Network is and does.

XYO Price Prediction

Here are the XYO price predictions from CCN on Aug. 23, 2024. Price forecasts should be taken cautiously, especially for something as volatile as crypto. Our XYO crypto price predictions will use the wave count method to predict its future movement.

We will add and remove 20% from the target price to provide a range of possible outcomes, resulting in minimum and maximum XYO price predictions.

Minimum XYO Price Prediction Average XYO Price Prediction Minimum XYO Price Prediction
2024 $0.00318 $0.00374 $0.00432
2025 $0.00042 $0.00052 $0.00062
2030 $0.00220 $0.00271 $0.00320

The most likely wave count suggests that XYO has completed an A-B-C corrective structure starting in Dec. 2022. If this is the case, what will follow is a downward movement part of a new bearish trend.

The downward movement may have 1.61 times the length of the upward correction. If we project a similarly shaped decline as the one after the all-time high, XYO will reach a bottom at the $0.00052 horizontal support area in Feb. 2026.

During this decline, the wave count gives XYO price predictions of $0.0037 and $0.00052 at the end of 2024 and 2025, respectively.

XYO Price Prediction
XYO/USDT Weekly Chart | Credit: Valdrin Tahiri/TradingView

Then, we use the rate of decrease since launch to come up with our XYO price prediction for the end of 2030. Doing so leads to a price of $0.00271. We add and remove 20% from this target to come up with our minimum and maximum XYO price predictions.

XYO Price Prediction for 2024

Our wave count method gives an XYO price prediction range between $0.00318 and $0.00432 for the end of 2024.

XYO Price Prediction for 2025

Our wave count method gives an XYO price prediction range between $0.00042 and $0.00062 for the end of 2025.

XYO Price Prediction for 2030

Using the daily rate of decrease we come up with an XYO price prediction range between $0.00220 and $0.00320 for the end of 2030.

XYO Price Analysis

The daily XYO price chart shows a decline inside a descending wedge since April 2024. The descending wedge is considered a bullish pattern, meaning that it leads to breakouts most of the time.

XYO is nearing the end of the pattern, so a decisive movement is likely to happen soon.

The daily RSI and MACD both support the breakout. They have generated bullish divergences (green), signs that often precede downward movements. So, XYO could break out toward the closest resistance at $0.01.

However, as outlined by the long-term count, this is likely to be a relief rally part of a longer downward trend.

XYO Price Analysis
XYO/USDT Daily Chart | Credit: Valdrin Tahiri/TradingView

Short-Term XYO Price Prediction

The XYO price prediction for the next 24 hours relies on the price breaking out from the descending wedge. If this happens, XYO could gradually increase toward the $0.01 resistance area.

A projected breakout suggests that the price of XYO will reach this target in October.

XYO Price Analysis
XYO/USDT Six-Hour Chart | Credit: Valdrin Tahiri/TradingView

XYO Average True Range (ATR): XYO 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.

XYO ATR
XYO Weekly ATR | Credit: Valdrin Tahiri/TradingView

On Aug. 23, 2024, XYO’s weekly ATR was 0.0015, implying low volatility. The ATR has fallen since Dec. 2021. As a proportion of the XYO price, the ATR is 0.23.

XYO Relative Strength Index (RSI): Is XYO Oversold or Overbought?

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.

On Aug. 23, 2024, the XYO weekly RSI was at 24 showing a bearish trend. The weekly RSI fell below 50 in May.

XYO Weekly RSI
XYO Weekly RSI | Credit: TradingView

Best Days and Months to Buy XYO

We looked at the XYO price history and found the times when the price was at its lowest across certain days, months, quarters, and even weeks in the year, indicating the best times to buy XYO.

Time to Buy XYO Best Days, Weeks, Months and Quarters
Best Day Friday
Best Week 12
Best Month March
Best Quarter First

XYO Price Performance Comparison

XYO is part of the Internet of Things (IOT) category, so let’s compare it to other similar projects.

Current Price One Year Ago Price Change
XYO Network $0.00471 $0.00318 +47.5%
Helium $6.69 $1.56 +305.5%
Streamr $0.0043 $0.0021 +96.1%
IOTA $0.141 $0.145 -1.6%

XYO Price History

Let’s examine XYO’s price history. While past performance isn’t necessarily indicative of future results, understanding XYO’s historical trends can help us contextualize future predictions.

2018-2020: XYO entered the open market in May 2018, priced around $0.0060. For nearly three years, this was as high as it got.

2021: The year 2021 marked a turning point for XYO as the crypto market experienced a boom. XYO reached a periodic high of $0.0078 on April 4. Despite a dip over the summer, it recovered in August, breaking past $0.01 and reaching an all-time high of $0.0820 on November 6. It ended the year at $0.0339.

2022: After a year of growth, 2022 proved challenging for XYO and the broader crypto market. Following the collapse of the Terra (LUNA) blockchain in May, XYO dropped below $0.0100. The situation worsened in August when the SEC declared it an unregistered security, and the FTX exchange’s bankruptcy in November further impacted the market. XYO closed the year at $0.0031, a year-on-year loss of more than 90%.

2023: The year began on a positive note, with XYO reaching $0.0092 on January 4. However, the general trend was downward thereafter. In June, after the SEC sued the Binance and Coinbase exchanges, and Crypto.com suspended its American institutional operations, XYO fell to $0.0031 on June 10. Despite a brief rally to $0.0039 on October 8, it soon dropped back to $0.0031 by October 10. However, by the end of the year, XYO was trading at $0.0064, more than doubling its value across 2023.

2024: XYO has been mired in a downtrend in 2024 and trades at $0.0047 on Aug. 23.

XYO Price History
XYO Price History | Credit: CoinGecko
Time XYO Price
Last Week (Aug. 16, 2024) $0.00444
Last Month (July 23, 2024) $0.00583
Three Months Ago (May 23, 2024) $0.00802
One Year Ago (Aug. 23, 2023) $0.00318
Five Years Ago (Aug. 23, 2018) $0.000493
Launch Price (June 12, 2018) $0.00449
All-Time High (Nov 06, 2021) $0.08139
All-Time Low (March 3, 2020) $0.00009672

XYO Market Cap

The market capitalization, or market cap, is the sum of the total number of XYO in circulation multiplied by its price. On Aug. 23, 2024, XYO’s market cap was $65 million, making it the 530th largest crypto by that metric.

XYO Market Cap
XYO Market Cap | Credit: CoinGecko

Who Owns the Most XYO Network (XYO) Tokens?

As of Aug. 22, 2024, the five wallets holding the most XYO tokens  are:

  • 0xa43db9989d81e4c1e173f60d629ca4e06987b3e4. This wallet held 683,126,963 XYO or 0.68% of the supply.
  • 0xe791e885318e16c3e8dc6a6599938d9e454b125d. This wallet held 505,516,707 XYO or 0.51% of the supply.
  • 0xd6216fc19db775df9774a6e33526131da7d19a2c. This wallet held 505,011,689 XYO or 0.51% of the supply.
  • 0x0ae8bd7b2bfd4ce2027e34494509245c569cbf24. This wallet held 379,582,440 XYO or 0.38% of the supply.
  • 0x8119ec16f0573b7dac7c0cb94eb504fb32456ee1. This wallet held 276,031,202 XYO or 0.28% of the supply.

XYO Supply and Distribution

Supply and Distribution Figures
Maximum Supply 13,931,216,938
Circulating Supply as of Aug. 23, 2024 13,931,216,938
Holder Distribution as of Aug. 23, 2024 The top 10 holders owned 3.55% of the total supply

From the XYO Whitepaper

According to the XYO whitepaper , the goal of the XYO Network is “to create a trustless, decentralized system of location oracles that is resistant to attack and produces the highest certainty possible when queried for available data”.

XYO Explained

The XYO Network  is a platform that adds geospatial data, information about objects and their locations, onto the blockchain. It uses smart contracts, and computer programs which automatically execute once certain conditions are met. 

Crypto entrepreneurs Arie Trouw, Markus Levin, and Scott Scheper founded the network, which is based on the Ethereum (ETH) blockchain in 2023. 

The XYO token supports the XYO Network.

How XYO Works

The XYO Network relies on four groups of people who help keep the system running. These are

  • Sentinels, who broadcast signals that are picked up and turned into data.
  • Archivists, or data collectors. 
  • Diviners, who answer questions about data.
  • Bridges, who connect everything. 

The XYO token rewards the system users. People can also buy, sell, and trade it on exchanges. 

Is XYO a Good Investment?

It is hard to tell. With the shadow of legal action looming over XYO, many investors might decide to stay away until the matter is resolved. 

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

Will XYO go up or down?

No one can tell right now. While the XYO 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 XYO?

Before you decide whether or not to invest in XYO, you will have to do your own research, not only on XYO but on other coins and tokens such as The Graph (GRT) or IOTA (MIOTA). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

FAQs 

How many XYO are there?

On Aug. 23, 2024, there were 13.9 billion XYO in circulation, representing the total supply.

Will XYO reach $0.10?

It might do, but not for a little bit. PricePrediction.net says it will happen by 2030 and DigitalCoinPrice says it will get there in 2031.

Keep in mind that XYO has never been worth $0.01.

What is XYO used for?

The XYO token rewards people who help operate the XYO Network. People can also buy, sell, and trade it on exchanges.

 

Disclaimer: The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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