Home Blog Page 1318

Fox Business Reporter Joins Debate Over Legitimacy of “Official Trump Coin”

Abdulkarim Abdulwahab
-
0
Fox Business Reporter Joins Debate Over Legitimacy of “Official Trump Coin”

Recently, the crypto community has been abuzz with talk of an “official Trump coin” amid Donald Trump’s enthusiastic endorsement of crypto as a U.S. presidential candidate. 

This development follows numerous meme coins created in Trump’s name over the past few months as he vies for the presidency with the backing of crypto enthusiasts. While many of these coins were created in jest, others were designed to solicit crypto donations for Trump’s campaign.

Notably, a new meme coin called RTR has recently been launched, inspired by Trump’s “Restore The Republic” slogan and his promise to make America a hub for cryptocurrencies if elected.

The developers of RTR are now promoting their coin as “the official Trump coin,” sparking interest and debate within the crypto community.

What Purpose Could an “Official Trump Coin” Serve?

For clarity, there is no official Trump coin. Amid the buzz, many are questioning why an “official Trump coin” should even exist at all.

Neeraj Agrawal, an official at Coincenter, sparked a lively discussion on social media platform X by asking what the point of an “official Trump coin” would be.

Crypto analyst EllioTrades argued that politics has become a kind of “cult” in this current crypto cycle, where people are betting on trends rather than fundamentals. “Is there a bigger cult to bet on than politics,” he asked rhetorically.

Mike, another prominent analyst, suggested that it is the “speculation that it doesn’t go to zero, so someone can send it there.”

Angel investor Zack Voell confirmed this sentiment, stating that the purpose of an “official Trump coin” would be the same as the unofficial ones that have already been created: to facilitate pump-and-dump schemes for quick profits.

Eleanor Terrett, a respected Fox Business journalist within the crypto community, also chimed in. She sarcastically suggested that if an official Trump coin were to exist, it should have some utility beyond being just another meme coin. Given the Trump family’s real estate background, she speculated that it could perhaps be a Trump-branded real estate token.

According to data from Arkham, Donald Trump has a crypto portfolio worth over $3 million, which is largely denominated in various meme coins. Notably, the portfolio was worth nearly $10 million a few months ago.

Cardano Founder Reacts as Forbes Brands Him ‘Cult Leader’ and Cardano an ‘Ethereum Clone’

Albert Brown
-
0
Cardano Founder Reacts as Forbes Brands Him ‘Cult Leader’ and Cardano an ‘Ethereum Clone’

Cardano founder Charles Hoskinson challenges Steven Ehrlich, Forbes’ crypto research director, following belittling comments made in a recent publication.

For context, Forbes recently published a vivid portrayal of the cryptocurrency landscape, highlighting the reverence shown to its pioneers. The article described Satoshi Nakamoto, the enigmatic creator of Bitcoin, as having achieved mythical status as the industry’s forerunner.

It lauded Ethereum’s founder, Vitalik Buterin, as the intellectual spearhead of his blockchain, which boasts a market capitalization of $283 billion, portraying him as a pivotal figure in the sector. 

Cardano Founder a Cult Leader?

Conversely, Charles Hoskinson, the founder of Cardano, was characterized less favorably. Forbes labeled him a “cult leader” for supporters of his blockchain, which it described as an “Ethereum clone,” currently valued at $11.5 billion.

This description has sparked considerable debate within the crypto community. This online confrontation has sparked significant discussion within the cryptocurrency community, with many coming to Cardano’s defense, emphasizing its technological distinctions from Ethereum.

For instance, Cardano’s implementation of a proof-of-stake model predates Ethereum’s similar transition, marking a fundamental difference in their blockchain architectures. Enthusiasts also noted Cardano’s use of the eUTXO model and its low, deterministic fees compared to Ethereum’s high transaction costs and variable fee structure.

Meanwhile, Hoskinson himself has reacted to the publication, remarking that Steven Ehrlich’s portrayal of him as a cult leader and Cardano as merely an Ethereum clone is a significant mischaracterization.

Historical Altcoin Criticism by Forbes

This latest incident is part of Forbes’s larger pattern of skepticism toward altcoins. The publication has previously targeted other cryptocurrencies, such as XRP, in a critical light.

In a report earlier this year, Forbes branded XRP as a “zombie crypto” with little to no utility, arguing that it has not fulfilled its promise to revolutionize global remittances and rival the SWIFT network. 

Forbes has even described Ripple Labs as failing to meet its lofty ambitions despite significant interest from financial institutions. These critiques have consistently provoked strong reactions from the crypto community, reflecting deep divides in perspectives on the viability and impact of different blockchain projects.

Two Reasons Why SEC Will Appeal Ripple Verdict: Top Lawyer

Lele Jima
-
0
Two Reasons Why SEC Will Appeal Ripple Verdict: Top Lawyer

Prominent lawyer James Murphy (MetaLawMan) says the U.S. SEC will appeal the Ripple verdict.  

During an interview on The Wolf of All Streets podcast, Attorney Murphy suggested two reasons why the SEC may be prompted to appeal the Ripple decision. 

Disgorgement Concerns 

According to the lawyer, the first issue revolves around the disgorgement decision. Recall that Judge Analisa Torres did not grant the SEC’s request for disgorgement, worth $876.3 million. Notably, Judge Torres ruled that the SEC did not show that institutional buyers of XRP suffered pecuniary harm. 

Reacting, Attorney Murphy stated that this decision impacts other SEC pending cases as it requires the commission to show that investors suffered economic losses before it could seek disgorgement following a securities law violation. He asserted that the Second Circuit introduced this requirement last year via the SEC v. Govil lawsuit. 

However, Attorney Murphy pointed out that there is a split regarding this order in the circuit. Specifically, the Fifth Circuit emphasized that the SEC does not need to show that buyers suffered losses before seeking disgorgement. As a result of this split, Attorney Murphy said the SEC might appeal the disgorgement decision. 

Programmatic Sales Ruling 

Attorney Murphy’s second reason for believing the SEC could appeal revolves around Judge Torres’ summary judgment on programmatic sales. 

On July 13, 2023, Judge Torres confirmed that programmatic sales of XRP via the secondary market do not constitute investment contracts. According to Murphy, the commission might appeal since this decision will likely impact other crypto-related lawsuits. 

Recall that the ruling judge of the SEC v. Binance lawsuit leveraged the Ripple decision to declare that secondary market sales of BNB are not security transactions. The SEC might want to prevent a similar occurrence in other crypto cases by appealing Judge Torres’ programmatic sales decision. 

It bears mentioning that the SEC initially sought an interlocutory appeal to overturn this decision last year. However, Judge Torres denied the request and ordered the commission to wait, pending the resolution of the remedies phase. 

Ripple Could Also Appeal 

In a separate development, Matt Rosendin of CapSign forecasts that Ripple will also appeal Judge Torres’ decision. 

According to him, the judge’s order of a permanent injunction on the company’s future XRP sales poses a major challenge to institutions seeking to purchase XRP directly from Ripple. As reported earlier, the judge imposed a permanent injunction on Ripple’s future sales of any securities unless the company obtains approval from the SEC. 

Rosendin said this requirement might compel U.S. institutions to buy XRP from the secondary market instead of directly from Ripple. He added that the injunction could mitigate the adoption of Ripple’s ODL, thus affecting XRP liquidity in the U.S. market. 

Meanwhile, two Ripple executives—Brad Garlinghouse (CEO) and Stuart Alderoty (CLO)—commented on the recent decision. They applauded the court’s reduction of the SEC’s excessive $2 billion demand to $125 million.

However, they did not comment on the injunction part of the ruling. Some believe this suggests that the executives are not entirely pleased with the court’s permanent injunction order.

In the meantime, the crypto community would know whether any of the parties will appeal in the coming days. Notably, the parties are expected to officially appeal within 60 days after the final verdict was entered on August 7. 

XRP Holders Reassured: Bitcoin Investor Says, ‘I’m Still Telling You, You’re Not Wrong for Holding XRP

Abdulkarim Abdulwahab
-
0
XRP Holders Reassured: Bitcoin Investor Says, ‘I’m Still Telling You, You’re Not Wrong for Holding XRP

Xena, a Bitcoin holder with a notable following in the crypto community, has reassured XRP investors that they are right about their investment choice.

The community commentator shared this view in a recent post, seeking to help XRP holders keep a positive mindset amid market volatility and external criticism. Xena emphasized that even seasoned investors face emotional challenges when their assets experience periods of stagnation, but she urged XRP holders not to lose faith.

Notably, this commentary comes at a time when XRP is experiencing a protracted period of underperformance, though the trend is gradually improving. 

XRP has increased by approximately 40% in the last 30 days. Yet, it still lags behind 81 other cryptocurrencies with billion-dollar market caps. Moreover, XRP is down by about 20% from its yearly high of $0.744, considering its current value of $0.6.

The sluggish performance has been a source of frustration for holders and a focal point for critics questioning XRP’s prospects.

Not Wrong for Holding XRP, Bitcoin Investors Hold XRP

In her tweet, Xena addressed the criticisms often directed at XRP holders. She claimed they largely emerge from those who may have less skin in the game or who hold only fractional amounts of Bitcoin. According to her, many of these critics might be projecting their own insecurities and frustrations in the volatile crypto market.

“Most of these critics come from people who don’t even hold 1 Bitcoin but Satoshis waiting for it to go to $10 million,” she claimed.

Interestingly, Xena also revealed that many serious Bitcoin investors secretly hold XRP as well. She asserted that Bitcoin maxis investing in XRP may not openly admit it, but they recognize XRP’s value and potential. 

This sentiment might surprise those who view the crypto space as divided into strict camps of Bitcoin maximalists and XRP supporters.

Xena further shared that she has been a Bitcoin holder since its value ranged between $200 and $300 and that she also invests in XRP and Ethereum. She concluded her message by emphasizing that XRP investors are not wrong about their choice.

Responding to Xena’s sentiment, members of the XRP Army enthusiastically expressed their appreciation for the reassurance and warmly welcomed her open acknowledgment of her XRP investment.

XRP Arny relies
XRP Army relies

Shiba Inu Strong Recovery Fuels 2X Expectations in August

Albert Brown
-
0
Shiba Inu Strong Recovery Fuels 2X Expectations in August

Igniting a bull cycle with an engulfing candle, Shiba Inu prepares to bounce back from a long-coming support trendline. Will this recovery result in a bullish break for a 2x run in August?

With the crypto market bouncing back last night, Bitcoin and altcoins are on a bullish track. Leading the bull run, meme coins are back in the game, and Shiba Inu is making waves. 

As the second biggest meme coin with a massive community and growing support, Shiba Inu has massive underlying potential. With attempts to make it into the DeFi and layer-2 space, Shibarium bolsters the Shiba Inu ecosystem. Further, recent reports confirm that Shibarium is ready to introduce an automated burn mechanism, as seen in top projects. 

With growing significance and relevance in the crypto industry, will Shiba Inu become more than a meme coin? More importantly, will the bullish cycle in $SHIB result in a 2X surge this month?

Bearish Channel Traps SHIB

With a crystal clear lower high and lower low formation, the 1-day log price chart of Shiba Inu forms a falling channel pattern. In the recent broader market correction, the pullback in SHIB leads to a negative cycle to test the support trendline. 

Shiba Inu Price Chart
Shiba Inu Price Chart

With a long-tail lower price rejection from the $0.000010 psychological cushion, Shiba Inu buyers assert dominance over the trendline. Further, as the market bounces back, the $SHIB price completes a bullish engulfing candle with an intraday jump of 11%. 

As the bounce back occurs, the MACD and signal lines shoot up in the oversold region, revealing a bullish divergence in the last two dips. Furthermore, the average lines are ready for a bullish crossover, increasing the bull run chances. 

The DMI indicator shows a bearish trend in the VI lines, continuing with a surge in the ADX line. However, the recent recovery results in a minor convergence in the VI lines, teasing a potential positive crossover.

Shiba Burn Rates & Transactional Flows Rises

In a recent tweet from community burn tracker Shibburn, the number of SHIB tokens burned over the past 24 hours hit 105,981,775 SHIB, an increase of 137,411.87%.

In the last 7 days, the data shows that 114,775,953 SHIB were burned, resulting in a 366.69% increase. The increase in the burning rate could bolster the recovery chances.

Will Shiba Inu Reach $0.000030?

Currently, Shiba Inu trades at $0.00001410 with a minor retracement of 1.54% following the 11% jump last night. As per the Fibonacci levels, the uptrend in the falling channel must break past the overhead trendline for a bigger run. Hence, this breakout will be a crucial price action signal for buyers. 

With the bullish break, the bulls will likely challenge the 50% Fib level at $0.000022 or the 61.80% level at $0.000030 if the momentum sustains. 

XRP Climbs 42%, Nears $0.65 As Volume Spikes to $6B

Albert Brown
-
0
XRP Climbs 42%, Nears $0.65 As Volume Spikes to $6B

XRP has experienced a notable increase, soaring 42% from $0.43, as it closes in on a major resistance level at $0.65. 

This surge coincides with an extraordinary trading volume surpassing $6 billion, highlighting an intensified market interest following Ripple’s partial legal victory in its prolonged dispute with the U.S. Securities and Exchange Commission (SEC).

Recently, Judge Analisa Torres delivered a conclusive judgment in the lengthy legal battle between Ripple and the SEC. This decision represented a crucial development, as it marked the end of the case in the absence of any appeals.

Investor Confidence and Technical Indicators

One factor bolstering XRP’s market potential is the significant whale activity noted in recent months. Data from Santiment revealed that wallets holding over 10,000 XRP tokens reached a record high in July, with a notable accumulation of 662.4 million coins in August alone. This 10.4% increase suggests strong confidence in XRP’s future potential among large-scale investors.

Screenshot 41
XRP Metrics | Santiment

XRP’s social dominance also reached its highest level since January 30. This surge in social engagement typically correlates with increased speculative interest, which could further drive the cryptocurrency’s price upward.

Moreover, analyst Tony Severino highlighted a pattern in the parabolic SAR indicator, suggesting a possible upward trajectory.

XRP Could Surge Additional 50%

As XRP continues to navigate through this post-legal resolution phase, the market is closely watching its performance against significant resistance levels. Should XRP successfully breach the $0.60-$0.65 range, it could potentially challenge the $0.9327 mark, indicating a near 50.90% increase from the breakout point. 

Additionally, technical analysis points to more potential upward movements. The Relative Strength Index (RSI) currently stands at 57.66, indicating a bullish but not overbought market condition. 

Record Trading Volumes

Notably, Ripple’s legal closure has influenced trading activities. For instance, South Korea’s largest cryptocurrency exchange, Upbit, observed a substantial increase in XRP trading volumes immediately following the lawsuit’s resolution. 

Reports from The Crypto Basic and insights shared by Chad Steingraber, a prominent game designer and member of the XRP community, indicated an unprecedented spike in volume, with XRP’s trading on Upbit reaching $725 million—representing 14% of the global XRP volume. The per day trading volume of XRP exceeds $6 billion.

Shibarium Officially Confirms Introduction of Automated Shiba Inu Burns in Upcoming Hard fork

Lele Jima
-
0
Shibarium Officially Confirms Introduction of Automated Shiba Inu Burns in Upcoming Hard fork

The official Shibarium X handle announces the upcoming launch of a hard fork on the L2 network, which is expected to introduce the highly anticipated SHIB burn mechanism.

According to a recent announcement, the hard fork will occur at 9:15 AM (UTC) today, August 9, 2024. Following the hard fork, the team will release a new Bor version, v1.1.2-bone. 

Besides enhancing the overall performance of the Shiba Inu blockchain, this new Bor version is expected to introduce a burn mechanism that will automate SHIB burns. 

Upcoming Hard Fork to Introduce Automatic SHIB Burn on Shibarium 

This announcement triggered reactions among Shiba Inu enthusiasts, who demanded more details about the burn mechanism. As a result, Lucie, the marketing lead of the Shiba Inu ecosystem, added clarity to the initial announcement, emphasizing that the burn mechanism will be tied to Shibarium transaction fees. 

Upon the introduction of the new Bor version, Shibarium-powered SHIB burns will be automated using user fees. Notably, Shibarium transaction fees are divided into two parts: priority and base fees. While the priority fee is distributed to validators, a portion of the base fee will be used to incinerate SHIB. 

The marketing lead confirmed this development yesterday, noting that 70% of the base fee will be automatically converted to SHIB and permanently removed from circulation once the new hard fork goes live. 

She emphasized that the deflationary approach would contribute to reducing SHIB’s hefty supply and potentially boosting the value of the remaining tokens. 

According to Lucie, the remaining 30% of Shibarium’s base transaction fees will be dedicated to the ecosystem’s overall maintenance and development. 

Second Hard Fork in a Year 

The upcoming hard fork marks Shibarium’s second major upgrade this year. Recall that the L2 network completed a hard fork in May. The upgrade introduced faster transaction processing, predictable gas fees, and overall network enhancement. 

This upcoming hard fork will usher in automated SHIB burns, a feature the community has anticipated for several months. 

Burn Rate Spikes 137,411% in 24 Hours. 

Meanwhile, Shiba Inu community members and Ethereum co-founder Vitalik Buterin have burned over 410.72 trillion SHIB.

Of this total, over 56 billion SHIB were permanently destroyed using a portion of Shibarium’s base fees in six transactions. 

In the meantime, Shiba Inu’s burn rate has surged tremendously in the past 24 hours. At press time, the burn rate has increased 137,411% over the past day, with more than 105 million SHIB tokens destroyed. 

Shib burn rate
Shiba Inu burn rate | Shibburn

Ripple CTO Speaks on Firm’s Ability to Use XRP for Ripple Payments After SEC Case Injunction

Sam Wisdom Raphael
-
0
Ripple CTO Speaks on Firm’s Ability to Use XRP for Ripple Payments After SEC Case Injunction

The Ripple CTO David Schwartz provides clarification on whether the payment firm can still use XRP for its Ripple Payments transactions following the injunction from the SEC lawsuit.

Schwartz’s remarks came as a response to comments from critic and community figure “Scam Detective.” Recall that in addition to imposing a $125 million fine on Ripple for violating securities provisions, Judge Analisa Torres also issued an injunction to bar Ripple from further contravening securities laws through institutional XRP sales.

Can Ripple Still Use XRP for ODL in the US?

This part of the ruling has been the subject of debate due to its lack of clarity, especially to individuals that are not savvy with legal developments. Most recently, Scam Detective came up to suggest that the injunction stops Ripple from using XRP for ODL (On-Demand Liquidity) transactions in the United States.

Recall that ODL is now a part of the newly rebranded Ripple Payments service. Previously, Ripple formed a partnership with American exchange Uphold, looking to leverage the collaboration with the exchange to carry out ODL transactions in the U.S. through a nexus.

Scam Detective argued that since Judge Torres’s injunction puts a stop to institutional sales of XRP, it also means Ripple cannot use XRP for these ODL transactions in the U.S., as ODL transactions are also categorized as institutional sales.

Ripple CTO Remarks

In response, David Schwartz clarified that there is a distinction between “using” XRP and “selling” XRP. While not explicitly stated, the Ripple CTO’s comment implied that there is a difference between the company selling XRP to institutions and using XRP, especially for its payment services. 

Scam Detective further asked Schwartz to confirm if Ripple is actually using XRP to facilitate ODL transactions with a U.S. nexus party. The Ripple CTO clarified again that actually doing something is different from being able to do it. Essentially, while Ripple might not currently be using XRP for ODL transactions with a U.S. nexus, it does not necessarily mean the firm cannot do it.

To prevent further back-and-forth, Schwartz provided a page to the Ripple Payments documentation, pointing to the information at the bottom of the page. The information pertains to the payment flow involved when Ripple uses XRP for cross-border settlements.

After the sender enters the payment information, Ripple validates the transaction, ensuring it is compliant before approving it. Afterward, Ripple’s payout partner ensures the transaction is compliant and then approves it. Following the approval, the system then moves XRP and converts it to the destination currency.

The Ripple CTO’s remarks imply that the firm could still leverage XRP for these payments despite the injunction. As previously reported, industry experts such as CapSign founder Matt Rosendin and attorney Jeremy Hogan also confirmed this in multiple comments. 

XRP Jumps 17% with Eyes Set at $1 Amid Victory Over SEC

Albert Brown
-
0
XRP Jumps 17% with Eyes Set at $1 Amid Victory Over SEC

Despite the $125 Million fine, the legal battle ends with Ripple receiving a favorable ruling. The news leads to an XRP 17% surge to $0.60. Will the uptrend in XRP hit $1 in August?

With the legal fine dropping from the $2 Billion proposed by the US SEC to just $125 Million, the XRP price skyrocketed for a massive run. The ballistic move resulted in a bullish engulfing candle with an 18% surge.

Completing a morning star pattern in the daily chart, the reversal from the $0.43 low on the day of the bloodbath accounts for a 40% surge. Will the recovery rally in XRP result in a price jump to the $1 psychological mark?

First to Recover from Market Crash

The reversal rally in XRP following the Monday crash achieves supersonic speed. The recovery in motion discontinues the resistance trendline and completes a V-shaped recovery.

BITSTAMP:XRPUSD Chart Image by Trojan69420

The bullish powers overriding the trend control undermine the 7-day free fall in a single trading day. Further, XRP reclaims the market price of $0.60 and challenges the $0.65 resistance, which is evident by the higher price rejection. 

As per the Fibonacci levels, the uptrend starts from the 23.60% level and challenges the 61.80% Fib level. A breakout above this level will increase the chances of XRP reaching the 1.618 level above $1.

The MACD and signal lines are ready for a bullish crossover with a decline in bearish histograms. Furthermore, the daily RSI line spikes above the halfway line and reclaims the 14-day average line. Hence, the momentum indicators are bullish for XRP.

Bullish Crossover to Fuel the Next XRP Price Run 

In the 4-hour chart, the bullish recovery in XRP forms a rounding bottom pattern with a neckline at the previous swing high of $0.65. However, the recovery run faces opposition from the overhead resistance, resulting in a long wick and sideways movement at $0.60.

BITSTAMP:XRPUSD Chart Image by Trojan69420

The 4-hour Exponential Moving Averages (20, 50, 100, and 200) are merged due to the recently increased volatility. However, a decisive upsurge with the $0.65 breakout will result in a golden crossover and increase bullish alignment chances. 

Will XRP Top $1 in August?

Following the recent win, the XRP community is ecstatic, and the bulls are hyperactive. However, as the uptrend hits the supply ceiling at $0.65, a crossroads of minor uncertainty appears for XRP. 

Despite the bullish trend driven by sentiment and broader market recovery, minor profit booking at $0.65 could dampen the uptrend. Surpassing the minor hiccup at the rounding bottom neckline at $0.65, XRP will have increased chances of hitting the $1 mark this month. 

ChatGPT and Grok Predict How High XRP Can Go as Ripple Lawsuit Ends

Sam Wisdom Raphael
-
0
ChatGPT and Grok Predict How High XRP Can Go as Ripple Lawsuit Ends

Multiple projections expect XRP to soar to greater heights on the back of the final resolution of the Ripple v. SEC legal battle.

Recall that payments firm Ripple and the U.S. Securities and Exchange Commission (SEC) recently witnessed the end of their nearly four-year-old legal tussle. Notably, the SEC charged Ripple for allegedly violating securities provisions with its sales of XRP in December 2020. 

Ripple Secures Partial Victory

After three years of constant legal arguments, the judge ruled last July that XRP in itself is not a security. In addition, the court found that Ripple did not violate securities laws for most of its XRP sales, as the SEC alleged. However, it was decided that the firm only broke the law through its previous sales to institutions.

Since last tear, both parties had presented their arguments on the appropriate penalties for this violation. Judge Analisa Torres recently ruled that Ripple should pay $125 million. While this figure is 94% less than the $2 billion fine proposed by the SEC, it is nearly 12 times more than Ripple’s $10 million proposition.

Nonetheless, Ripple executives such as CEO Brad Garlinghouse see the final ruling as a victory. XRP skyrocketed 30% beyond $0.64 on the back of the decision, partly confirming speculation that it could reach significant heights once the lawsuit concludes.

Despite facing a roadblock to the latest solo rally, XRP has maintained a green week, performing better than the rest of the market. With the asset currently changing hands at $0.6197, market participants insist its upsurge has not been exhausted.

Possible XRP Price Trajectories Following Lawsuit Resolution

Amid these speculations and the prevalent uncertainty, The Crypto Basic recently posed inquiries on the possible extent of XRP’s rally to AI chatbots ChatGPT by OpenAI and Grok from Elon Musk’s X platform. While both chatbots provided varied answers, some were more optimistic than others.

ChatGPT emphasized that projecting XRP’s growth rate in the back of the ruling remains speculative and challenging. However, the chatbot pointed to several factors capable of bolstering XRP’s run. These include institutional adoption of XRP, increased partnerships for Ripple, growing XRPL use cases and positive market sentiments.

XRP Price Prediction ChatGPT
XRP Price Prediction | ChatGPT

ChatGPT presented three possible scenarios, citing these factors. For the “moderate growth” scenario, the chatbot predicted XRP to hit a price range of $5 to $10. However, in the “significant growth” scenario, ChatGPT expects XRP to reach $10 to $20. Meanwhile, the “parabolic growth” scenario presents a case for XRP to hit $50 or more.

While ChatGPT’s projections all consider favorable scenarios, Grok also points to unfavorable outcomes. According to Grok, if XRP witnesses increased adoption following the conclusion of the lawsuit, its price could hit $10. Nonetheless, the AI chatbot asserted that if regulatory challenges continue, XRP could drop to $0.1.

XRP Price Prediction Grok AI
XRP Price Prediction | Grok AI

In the third scenario, Grok pointed to a moderate growth rate which would see XRP enjoy a mild increase in adoption. The chatbot expects XRP to reach $3 or above should this scenario materialize. However, it is important to note that XRP’s price trajectory might completely deviate from these projections.

1...1,3171,3181,319...2,665Page 1,318 of 2,665