Xai (XAI) Price Prediction 2024: Will XAI Price Hit $2 Soon?

• Bullish XAI price prediction ranges from $0.8 to $1.5
• Analysis suggests that the XAI price might reach above $0.76
• The XAI bearish market price prediction for 2024 is $0.5

What is Xai (XAI)?

The Xai network is an open and decentralized blockchain network that enables billions of 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. Additionally, the network enables anyone to operate a node, receive network rewards, and participate in governance.

The Xai Blockchain was developed by Offchain Labs and it is overseen by the Xai Foundation. This network was custom-developed to address the needs of web3 gaming at scale. Tailored specifically for gaming, this blockchain offers traditional gamers an abstracted wallet and account experience, provides developers with increased gas and contract limits, and establishes a fully decentralized ecosystem that fosters trust and transparency for all participants. By leveraging Ethereum’s robust security measures, the Xai Blockchain cements its resilience against potential hacks and other vulnerabilities.

Xai (XAI) Current Market Status

Xai has a circulating supply of 277,118,150 XAI, while its maximum supply is 2,500,000,000 XAI coins, according to CoinMarketCap. At the time of writing, XAI is trading at $0.5335 representing 24 hours decrease of 26%. The trading volume of XAI in the past 24 hours is $280,147,323 which represents a 63% increase.

Some top cryptocurrency exchanges for trading XAI are Binance, Bybit, BingX, Bitrue, and Bitget.

Now that you know XAI TX and its current market status, we shall discuss the price analysis of  XAI for 2024.

Xai (XAI) Price Analysis 2024

Currently, Xai (XAI) ranks 268 on CoinMarketCap. Will XAI’s most recent improvements, additions, and modifications help its price go up? First, let’s focus on the charts in this article’s XAI price forecast.

Xai (XAI) Price Analysis – Bollinger Bands

The Bollinger bands are a type of price envelope developed by John Bollinger. It gives a range with an upper and lower limit for the price to fluctuate. The Bollinger bands work on the principle of standard deviation and period (time). 

The upper band as shown in the chart is calculated by adding two times the standard deviation to the Simple Moving Average while the lower band is calculated by subtracting two times the standard deviation from the Simple Moving Average. When the bands widen, it shows there’s going to be more volatility and when they contract, there is less volatility.

The above chart shows that with the inception of XAI, there was a huge spike but thereafter the token started to lose value. It can be seen that it is moving sideways inside the Bollinger bands.  As the token is resting on the lower band during press time, there is a high chance that the traders will buy the dip and recreate a demand. This demand could increase the prices and XAI could reach the upper band.

The Bollinger band super trend indicator shows that XAI is on a downtrend with the right highlighted background. Moreover, the Bollinger bands have shrunk and the Bollinger band width percentile reads a value of 40.91% and the line is moving horizontally. This shows that the bandwidth could be constant and the market will consolidate.  

Xai (XAI) Price Analysis – Relative Strength Index

The Relative Strength Index is an indicator that is used to find out whether the price of a security is overvalued or undervalued. As per its name, RSI indicators help determine how the security is doing at present, relative to its previous price. 

Moreover, it has a signal line which is a Simple Moving Average (SMA) that acts as a yardstick or reference to the RSI line. Hence, whenever the RSI line is above the SMA, it is considered bullish; if it’s below the SMA, it is bearish. 

The above chart shows that the RSI is currently heading in the oversold direction. The RSI reads a value of 35 and is menacingly close to the oversold region. If the buyers don’t act fast XAI will enter the oversold territory. There is a high chance that some buyers might be waiting for XAI to reach its bottom before they cash in on it. 

Meanwhile, the RSI is an indicator that could be used to detect divergences. For instance, the RSI usually mimics the path of the cryptocurrency. When the crypto makes a higher high the RSI also makes a higher high. However, if the crypto makes a higher high and the RSI makes a lower high, then it is called a divergence– a bearish divergence in particular.  And vice versa for bullish divergence. 

Note that these divergences could also be time-sensitive. A divergence in a longer timeframe necessarily need not be a divergence in a shorter time frame.  

Xai (XAI) Price Analysis – Volume Weighted Average 

As its name suggests, the Volume Weighted Average is an indicator that gives an average based on the price and volume of the crypto. Unlike the Simple Moving Average which doesn’t take volume into account, the VWA is more accurate as it measures the the change in price with the volume. 

Traders use this indicator to enter and exit the market. For instance, when a trader spots that the crypto is just rising above the VWA, then, they go long. When the crypto crosses just below the VWA they go short. 

The above chart has VWA with 1,2 and 3 standard deviations away from it. The further the prices are away from the VWA, the more the chance of them returning towards the VWA.  Currently, XAI is heading towards the VWA from below it. If more buyers keep entering the market, then, the price of XAI could increase and cross above the VWA. As such, those trying to go long may need to wait for the market to make a move before entering it.  

Xai (XAI) Price Prediction 2024

The above chart shows that XAI was moving diagonally downwards along the 1:1 Gann line. However, the gradient of losing value was smoothened as the token started to consolidate and move sideways. Since this is the initiation of the coin it will be hard to adjudicate in which direction XAI could move. Especially in a volatile market where the BTC ETF approval is pending and the BTC halving about to happen. 

The Chande Kroll Stop indicator which helps to determine the stop-loss, has its short-stop loss at $0.55 while the long-stop loss is at $0.52. The short stop-loss is coming down while the long stop-loss is stable 

 This shows that although bulls have been allowed to form new tops the bears haven’t been able to dominate and take XAI downwards. This could be because the market is saturated at the moment. In the event XAI spike we could expect it to go past $0.76 and it could even reach $1.5. However, if XAI falls it may reach the 2:1 Gann line for support and reach $0.5. 

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