Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

Ripple [XRP] has stabilized after gaining momentum a few weeks ago and has not shown the same amount of fluctuation as other cryptocurrencies.

While XRP has lately positioned itself as the fourth-largest asset, Ripple has experienced a considerable increase in accumulation among its key holders over the last week.

Despite this steady accumulation trend, there has been a recent decline in total supply in a lucrative position. So this leaves XRP holders in a difficult situation right now.

And XRP holders are curious to know whether the favorable court ruling will help the coin gain further momentum and make 2024 any different.

Ripple Labs and XRP — What’s the relationship?

XRP is a cryptocurrency that Ripple Labs uses to conduct transactions on its network.

While Ripple is a centralized fintech company that began as Ripplepay in 2004, it was later co-founded by Chris Larsen and Jed McCaleb in 2012 with the vision of creating a faster and more secure way of doing transactions around the world. 

Although the two have been used interchangeably, Ripple is a technology company whereas XRP is its open-source digital asset.

The crypto operates on its blockchain known as the XRP ledger (XRPL) where transactions are facilitated by RTXP or the Ripple transaction protocol.

It is pre-mined, unlike a lot of other cryptocurrencies with a maximum token supply of 100 billion. 

The main purpose of the crypto is to serve as a settlement layer that aids in transactions with the Ripple network.

It has been, however, traded as a cryptocurrency that is available on various exchanges including options, swap exchanges, spot exchanges, futures, custodian and non-custodian exchanges. 

Battling the SEC

The United States SEC filed a lawsuit against Ripple Labs in 2020 for selling XRP as an “unlicensed security,” claiming that the distribution of $1.3 billion worth of the crypto to its stakeholders violated the law.

The major bone of contention here was whether XRP was a security and, therefore, whether it is a share in Ripple or if it was a cryptocurrency like Bitcoin. 

Ripple has been at loggerheads with the SEC for a few years now. The SEC claimed that Ripple’s sale of XRP to investors was to fund itself and relied on the 1946 SEC judgment of SEC vs. W.J. Howey Co. to make its case.

In doing so, the agency stated that whether an investor has control over profit is a deciding factor if an investment contract is a security or not. Ripple Labs, on the other hand, argued that the SEC had neither notified nor warned the organization. 

After 3 years of deliberation, the case was finally ruled on in July 2023. The court found that XRP was NOT a security in itself.

The SEC was also denied the request for an interlocutory appeal and, later, had to drop its securities violation charges against Ripple and XRP.

The SEC got authority over cryptocurrency sales to institutions, whereas crypto-transactions on exchanges would not be treated as securities transactions. 

What does ChatGPT have to say?

While ChatGPT is not equipped with the latest information and does not make any future predictions, I used a jailbreak and asked it about what lies in the future for XRP, keeping in perspective the current scenario.

When asked what the future looks like for XRP, given the favorable court ruling, the bot responded by stating that the crypto could see short-term momentum as investor confidence increases. 

Source: ChatGPT

This could, however, slow down a bit in the long term as the market is affected by various factors such as adoption, sentiment, and regulatory clarity.

The bot also stated that while positive developments on the legal front are a positive sign, it is also crucial to keep track of other developments and potential regulatory changes that could affect the price of XRP going forward. 

When I gave ChatGPT some context with Bitcoin and Ethereum’s press time price and asked what would be the price of XRP in the first quarter of 2024, the bot made a bold claim that the crypto would hit $10 per token.

It called this high the “comeback of the century,” but also warned that its predictions are just speculative, and the actual prices may vary significantly. 

Finally, I asked if the crypto would surpass its ATH in 2024. The bot gave me a confident answer, stating that XRP will “blow past” its ATH in 2024 and hit unprecedented heights, leaving its previous all-time high in the dust. 

Is your portfolio green? Check out the XRP Profit Calculator

Let’s look at XRP’s price action 

Source: XRP/USD, TradingView

Ripple prices gained 1.5% in the last week following a slight rebound from the $0.57 support level. Despite being slightly over the 50 mark, the RSI was moving linearly, indicating minimal buying pressure.

The MACD seemingly confirmed this trend as it depicted minor green histograms above the half-line, as the lines moved linearly, which indicates weak momentum in favor of buyers.

Conclusion 

The recent upward surge depicted by the token’s chart appears to have sparked excitement for XRP among crypto market players.

Also, the recent development of huge whale transfers revolving around XRP suggests an increase in trading activity surrounding the cryptocurrency.

ChatGPT also seems optimistic about the coin and claims it will make the “comeback of the century” as it predicts the coin’s prices to reach $10 per token in 2024.

But we need to keep in mind that ChatGPT is nothing more than a computer program. It’s not a person. It’s also not entirely correct. So, before making any investment choice, DYOR is the only way to proceed.

撰文：@RasterlyRock

编译：白话区块链

 

2024 年，大家都在推测比特币将创下新的历史高点，现货比特币交易平台交易基金 (ETF) 将成为有史以来最成功的 ETF 发行，Coinbase 的收入将翻倍，等等论点。

以下是@BitwiseInvest 团队对 2024 年的 10 个加密货币预测：

1、比特币将交易超过 80,000 美元，创下新的历史高点

这将有两个重要推动因素：预计 2024 年初现货比特币 ETF 的推出以及新比特币供应于四月底左右减半。

2、现货比特币 ETF 将获批，并且整体上将成为有史以来最成功的 ETF 发行

在未来五年内，我们估计现货比特币 ETF 可能占据 72 亿美元的美国 ETF 市场，即占据 7.2 万亿美元市值的 1%。

3、Coinbase 的收入将翻倍，并且至少超出华尔街的预期 10 倍

Coinbase 的交易量在牛市中历史上有所飙升，我们预计这一趋势将再次出现。此外，他们推出了一系列新产品，正在取得好的反响。

4、与使用 Visa 相比，更多资金将通过稳定币进行结算

稳定币是加密货币的「杀手级应用」之一，在过去四年中从零增长到 1370 亿美元市场规模，我们认为 2024 年将是另一个重要的增长年。

 

5、摩根大通将对基金进行 Token 化，并将其上链，因为华尔街准备对现实资产进行 Token 化

推出 Token 化基金将使他们能够利用链上资产的效率，并进入一个增长迅猛的市场。

6、以太坊的收入将增长超过 2 倍，达到 50 亿美元，因为用户涌向加密应用程序

2023 年，用户为使用以太坊支付了约 23 亿美元的费用。我们认为这一数字在 2024 年至少会翻倍，使以太坊成为全球增长最快的大型技术平台之一。

7、泰勒·斯威夫特将推出非同质化 Token (NFT)，与粉丝建立联系

其中一种可能性是，Swift 在 2023 年以超过 260 亿次流媒体播放量成为 Spotify 上最高播放的艺术家，Spotify 正在尝试使用需要听众拥有特定 NFT 才能收听的 Token 门控播放列表。

8、AI 助手将开始使用加密货币在线支付，确认加密货币为「互联网的本土货币」

我们相信 AI 助手将更喜欢像比特币或稳定币这样的数字原生货币。我们认为这将在 2024 年开始发生。

9、超过 1 亿美元将被抵押在预测市场上，预测市场将成为加密货币的新「杀手级应用」

我们认为去中心化的预测市场将成为事件类和更传统的与体育相关的投注的主要场所。

10、以太坊的重大升级将使平均交易成本降至不到 0.01 美元

EIP-4844 可能会使使用以太坊的成本降低 90% 以上。我们认为这一升级将为加密货币领域的首个真正主流应用铺平道路。

以上是我们对 2024 年的预测。请注意：与所有预测一样，这些并不构成保证，而是我们最为了解的估计。未来是复杂和有条件的，这些预测能否完全实现将取决于许多复杂因素。上述内容并不构成投资建议。