XRP is trading above the $0.60 resistance again, with the price reaching $0.6237 so far today. Following the recent approval of the Bitcoin Spot ETF, the token continued its rise from a low of $0.50 just over a week earlier on January 3.
This positive feeling comes in particular from a historic regulatory breakthrough in the United States. On January 10, the Securities and Exchange Commission (SEC) approved 11 Bitcoin spot ETFs, which began trading on US exchanges.
These ETFs outperformed the daily price action of Bitcoin (BTC), suggesting broader market acceptance and institutional interest in cryptocurrencies.
However, Bitcoin is not the only one to benefit from the regulatory green light. Ethereum (ETH), XRP and many other digital assets are outperforming the leading cryptocurrency. Additionally, ETF news may have triggered the 2024 bull market. Additionally, signs are increasingly pointing to a new season gaining momentum.
Given the increased market activity, Finbold turned to ChatGPT-4, seeking information on the price of XRP.
ChatGPT-4 XRP Price Prediction
Notably, OpenAI's flagship product gave three price projections for XRP in the future. As the most likely scenario, ChatGPT-4 sees the token trading between $0.65 and $0.75 in the near term.
Meanwhile, a more optimistic outcome could potentially drive the XRP price between $0.80 and $1.00. ChatGPT mentioned increased market confidence thanks to the Bitcoin ETF approval and other influencing factors:
“Ripple effect: Positive sentiment towards Bitcoin often spills over to altcoins, potentially leading to a disproportionate increase in their value. Adoption and Development: If Ripple, the company behind XRP, announces significant partnerships or technological advancements, this could further increase the price of XRP.
– ChatGPT
