XRP has been one of the standout performers in the 2024 cryptocurrency market, registering an over 300% year-to-date (YTD) increase. Despite this impressive rally, the token’s recent price trend has raised questions about its near-term trajectory.
Following the news of RLUSD’s official launch on December 17, XRP momentarily surpassed a key resistance level of $2.50 and traded at $2.70. However, since reaching this milestone, the token has experienced consolidation as it trades at $2.35, according to CoinMarketCap.
Given this mixed scenario—marked by both a sharp rally and subsequent stagnation—investors and analysts seek clarity about whether XRP can sustain its momentum. To provide insight, Times Tabloid consulted GrokAI, a leading artificial intelligence tool, to evaluate XRP’s price potential by the end of 2024.
GrokAI’s 2024 Year-End XRP Price Forecast
In its assessment, GrokAI acknowledged XRP’s strong performance but emphasized the inherent volatility of the cryptocurrency market.
The AI model highlighted that XRP’s recent price surge was largely driven by external factors, including developments in Ripple’s legal dispute with the U.S. Securities and Exchange Commission (SEC). It also noted that shifts within the SEC have played a critical role in shaping investor sentiment.
Factoring in the token’s historical price trends, resistance levels, and market dynamics, GrokAI offered a conservative year-end price prediction of $2.50 for XRP.
Explaining its reasoning, GrokAI stated, “Most of the token’s big jumps were driven by external developments – and there are no guarantees there will be more of these events in the remaining weeks of 2024.”
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
The AI model further clarified that accounting for these external influences, coupled with resistance levels and the volatile nature of the cryptocurrency market, leads to the conclusion that XRP’s price may remain stable through the end of the year.
Volatility and Market Sentiment
While some may view this forecast as stagnation, GrokAI’s cautious stance reflects its consideration of XRP’s current market position. After a rapid ascent to $2.70, the token has struggled to break through key resistance levels, and the absence of significant catalysts suggests that further upward momentum may be limited for now.
Nevertheless, GrokAI hinted at potential opportunities for XRP beyond 2024. The AI model noted that January 2025 could serve as a turning point for the token, citing the upcoming resignation of SEC Chair Gary Gensler.
The anticipated appointment of crypto-friendly Paul Atkins as his replacement is expected to provide a more favorable regulatory environment, potentially driving renewed interest in XRP and other cryptocurrencies.
Although XRP has already benefited from news of Gensler’s departure, GrokAI suggested that the actual leadership transition is another catalyst for the token’s price.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on Twitter, Facebook, Telegram, and Google News
The post Elon Musk’s Grok Says XRP Will Hit this Price By New Year’s Eve appeared first on Times Tabloid.
