Artificial intelligence (AI) technology GrokAI, developed by employees of Elon Musk's xAI company, recently made a prediction about the value of the cryptocurrency XRP by the end of 2024.

According to GrokAI, XRP's recent price surge was largely driven by external factors, most notably the news of the possible early resignation of Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC). Gensler is known as a prominent figure with a hardline stance against digital assets.

His departure could increase the chances of Ripple, the company that issues XRP, achieving a positive outcome in its lawsuit with the SEC. The next hearing is scheduled for January 2025.

GrokAI's Cautious View

Despite the positive external factors, GrokAI remains cautious about XRP's upside potential due to the lack of strong internal drivers. The AI ​​predicts XRP will reach $2.50 by the end of 2024, a slight increase of only 6% from current levels.

GrokAI also noted that XRP's price action chart shows modest growth. Specifically, on December 19, XRP fell to the 23.6% Fibonacci level after rising from $0.51 to $2.91. However, thanks to a strong recovery from investors, XRP's price has surpassed this level. If buyers continue to hold the price above $2.34, the coin could reach $2.50 or higher.

Future Expectations

In addition to legal and political factors, the XRP investor community is also closely monitoring macroeconomic developments and the development trends of the cryptocurrency market. If Ripple wins the legal battle with the SEC or the cryptocurrency market continues to receive support from global policies, the possibility of XRP surpassing GrokAI's $2.5 prediction is still entirely possible.

However, GrokAI also emphasized that investors need to be careful and should not rely solely on external factors to make decisions, especially in the context of the cryptocurrency market, which is always volatile and unpredictable.

GrokAI's prediction is for reference only, but it is also a reminder that XRP's stability and sustainable development requires both internal factors and support from the external environment.

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