In recent weeks, there have been several positive developments around Ripple’s XRP crypto. With some of them overwhelmingly positive, several pundits got wet in favor of blowing up its price. But what is it really?
The crypto XRP in a situation of declining performance
Ripple’s crypto XRP is currently worth $0.49. It has fallen 4.44% in the past 24 hours. A drop which is estimated at 6.94% over the past week. Recently, however, Thomas Kralow predicted a surge in the price of XRP that could reach $30.
His prediction was based in particular on the partial victory of Ripple against the SEC pronounced by judge Analisa Torres. In the wake of this decision, XRP seemed to have recovered. But things have eroded somewhat lately.
In the past two weeks, the price of XRP has lost around 10% of its value. A situation attributed by experts to the call of the SEC which would have sown uncertainty among the holders of the asset. As a result, many of them began to sell off their assets.
While doubt hangs over the growth potential of XRP with this development, ChatGPT is once again requested. The conversational agent is asked to comment on the possibilities of valuation of the asset while a bull market is envisaged.
The outlook for XRP according to ChatGPT
The chatbot did not venture to issue numbers around XRP. However, the tool indulged in a sort of factor analysis on the crypto. His opinion suggests a series of factors that could influence the price of the crypto.
Among these factors that would exert an influence on the potential rise of the price of XRP, ChatGPT mainly mentions the perception of the market. If the latter is positive in the minds of investors, it can amplify interest in crypto and drive adoption.
It goes without saying that a sustained adoption of XRP could drive its price higher in the crypto market. A dynamic that could also be observed with a strengthening of optimism around the asset. Especially if the SEC appeal fails for example. The overall situation of the crypto industry is also decisive for the trajectory of the price of XRP. A general bull run of the market would be profitable for all cryptos, including XRP. This was particularly the case during the last bullish wave running from mid-2020 to the end of 2021. A period that saw most cryptos reach all-time highs.
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