TL;DR
- XRP’s Potential Rise: XRP surpassed $0.56 with predictions of reaching $0.66 soon, while another bullish forecast sees it hitting $220, though this requires a massive market cap increase.
- Comparison with BTC: Discussions suggest XRP might outpace BTC in 2024, especially if Ripple succeeds against the SEC.
- ChatGPT’s Insights: AI predicts positive momentum for both XRP (with a Ripple SEC win) and BTC, driven by regulatory developments like a US Bitcoin ETF approval.
Where is XRP Headed?
Ripple’s native token – XRP – recently crossed the $0.56 mark and seems to be on a bullish path that could take the asset even higher in the near future.
According to the popular cryptocurrency analyst using the X (Twitter) handle Dark Defender, the coin’s valuation might surge to approximately $0.66 at the beginning of November.
“XRP formed a Bull Flag Pattern, and this structure touches precisely our target at $0.66,” they suggested.
Other analysts have not been so modest, envisioning the asset’s price to explode to astronomical levels. For example, X user CryptoBull predicted that XRP could skyrocket to $220 in the next bull run based on its performance during previous rallies.
It is worth noting that the surge seems quite unlikely, considering the fact that the token’s market capitalization should jump above $100 trillion for this to happen. In comparison, the entire market cap of the industry stood at around $3 trillion in 2021 when BTC charted an ATH of almost $70K.
Can XRP Outperform BTC in 2024?
Two of the most heavily discussed cryptocurrencies – Ripple (XRP) and Bitcoin (BTC) – have gathered much of the community’s attention lately due to their notable price increases in the past few weeks.
Some XRP proponents have raised hopes that next year could be quite positive, assuming the company behind the asset manages to score a decisive win in the legal battle against the SEC.
ChatGPT also suggested that such a scenario could benefit the token’s price. However, the AI-powered language model estimated that BTC also has a chance of future rally based on possible upcoming regulatory developments such as the approval of a spot Bitcoin ETF in America.
Those curious to find out how high XRP might shoot in the remaining months of 2023 could take a look at the video below:
