XRP, Ripple’s cryptocurrency, shows hopes for further growth after reaching an all-time high of $3.65 in July. Various opinions exist on whether XRP can reach $5 by the end of the year.
XRP's Surge and AI Predictions
AI models such as ChatGPT, Grok, and Gemini express differing views on XRP's outlook. ChatGPT states that breaking the resistance level between $3.40 and $3.50 could lead to testing the $5 mark, especially if spot XRP ETF approvals in the US are granted, with the odds evaluated over 90% according to Polymarket.
Grok believes that achieving regulatory clarity and expanding Ripple’s use in cross-border payments can bolster XRP’s price, highlighting bank partnerships and upcoming ETF decisions as key factors.
Gemini agrees that hitting $5 is possible but underscores the need for substantial capital inflows and a convergence of positive developments within a short timeframe.
Risks and Constraints for XRP
However, ChatGPT warns of weak signals within XRP's data. Currently, DeFi activity on the XRP Ledger remains low, with TVL under $100 million. An increase in XRP reserves on Binance may indicate potential selling pressure.
Macroeconomic conditions also significantly influence XRP's price. Shrinking global liquidity or stagnant Bitcoin could keep XRP within the $2.70 to $3.20 range for the remainder of the year. Gemini notes that post-surge consolidation is typical, while Grok asserts that $5 is indeed an optimistic outlook, with more cautious forecasts indicating prices below $4.
Current Market Situation for XRP
According to CoinMarketCap, XRP is currently trading at $3.04, experiencing a 4.05% decline in the last 24 hours. The weekend effect is apparent as the trading volume has decreased by 23.26% to $4.98 billion during the same period.
XRP continues to attract attention from both investors and analysts due to its recent rise and predictions for future dynamics. However, it is crucial to consider the risks associated with market volatility and external economic factors.
