In the past days, Ripple’s XRP token experienced a minor 0.8% dip, and over the last week, it recorded a 1.1% decrease. Yet, the token has soared by 76% since the year’s start. XRP’s rise came following a US court ruling affirming that Ripple’s sale of the token to retail investors isn’t under securities law, rendering XRP an enticing asset.
OpenAI’s ChatGPT AI foresees XRP hitting $3 by the end of 2023, signifying a substantial 400% leap from its current levels. This projection hinges on Ripple’s recent legal win against the SEC (Securities and Exchange Commission) and the potential for a bullish trend in 2024. Market analysts predict a market upsurge in 2024, potentially reminiscent of the 2021 crypto industry rally, largely driven by the likely introduction of a spot Bitcoin (BTC) ETF.
In contrast, Google’s Bard AI offers a more tempered forecast for XRP, projecting its value to range between $0.5 and $1.8. The prediction factored in elements like market sentiment, regulatory landscape, and institutional adoption, among others.
Considering XRP’s remarkable performance in 2023, attention has been drawn to substantial whale activity. Whale Alert data revealed a transfer of 80 million XRP tokens from Ripple to an undisclosed wallet, valued at approximately $48.11 million. Additionally, a transaction of 26.70 million XRP tokens to Bitstamp, a Luxembourg-based exchange, garnered community interest.
The movement of tokens into an exchange could signal increased selling pressure, potentially indicating a bearish trend for XRP.
