๐๐ ๐ ๐จ๐ซ๐๐๐๐ฌ๐ญ๐ฌ ๐๐๐'๐ฌ ๐๐ซ๐ข๐๐ ๐๐ฒ ๐๐ง๐ ๐จ๐ ๐๐๐๐: ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ง๐ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ๐ฅ๐๐จ
GrokAI, an artificial intelligence system developed by xAI, a company founded by Elon Musk, has shared its projection for XRPโs price by the close of 2024. According to the AI, XRPโs recent price surge has largely been influenced by external factors, such as speculation around the potential removal of Gary Gensler, the head of the U.S. Securities and Exchange Commission (SEC). Gensler, known for his strict stance on digital assets, stepping down could significantly improve Ripple's prospects in its ongoing legal battle with the SEC, slated to resume in January 2025.
Despite these external developments, GrokAI remains cautious in its forecast for XRPโs growth. The AI highlights the absence of substantial internal drivers for a price rally and notes the uncertainty of continued favorable external conditions. As a result, the prediction for XRPโs value by the end of 2024 is relatively conservative, estimating it will rise to $2.50 โ a modest 6% increase from its current price.
Recent technical analysis aligns with this restrained outlook. On December 19, during a market downturn, XRPโs price touched the 23.6% Fibonacci retracement level, following its surge from $0.51 to $2.91. However, bullish momentum allowed the price to rebound and surpass this level. Should buyers maintain XRPโs value above $2.34, the cryptocurrency could reach or even exceed $2.50. Sustained support at this level will be crucial in determining whether XRP can achieve further gains or remain within its projected range.
