XRP strongly retraced last week’s gains following Ripple’s second sell-off in March for a total of 240 million tokens sold. Thus, Finbold turned to Claude 3 Opus, looking for insights on the price of XRP and what to expect next.
Interestingly, Anthropic recently unveiled Claude 3 Opus, its new artificial intelligence (AI) model deemed a superior tool to OpenAi’s ChatGPT-4. This AI has previously engaged in a price prediction for Bitcoin (BTC).
XRP price analysis
In the meantime, XRP is positioned among the top 10 cryptocurrencies in the market, focused on providing crypto payment solutions.
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The token has seen steady growth since mid-June 2022 lows of $0.291, trading in a notable uptrend since then. As of writing, XRP is priced at $0.62, inside of a trading range observed in the weekly chart. During this time, Ripple’s token went as high as $0.927 and now struggles to break out of this zone.
Claude Opus forecasts for the XRP token’s price
In this context, Claude 3 Opus provided three hypothetical forecasts for XRP for the end of 2024.
First, Claude’s AI predicts $0.80 to $1.20 as the most likely price range for XRP. This is considering the current market sentiment and a potential increased adoption for the token.
However, a bull run could drive prices even further, for a maximum of $1.50, according to Claude Opus. On the other hand, a sequence of negative events or a market downturn would do the opposite. Therefore, driving the XRP price to a minimum of $0.5.
“These predictions are based on the assumption that the cryptocurrency market will continue to grow and mature throughout 2024. XRP’s price will likely be influenced by factors such as the overall market sentiment, adoption by financial institutions, regulatory developments, and the success of Ripple’s partnerships and projects.”
In conclusion, XRP depends on multiple factors to meet the above analysis expectations and things can change quickly. Nevertheless, Ripple’s token has a likely rally of 30% to nearly 100% until the end of 2024, according to Claude Opus AI.
A run to the most bullish scenario would result in over 141% gains, while a crash to the most bearish prediction would result in losses of nearly 20%. Thus, traders and investors must be careful and understand the risk-reward ratio of XRP moving forward.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
