The artificial intelligence (AI) GrokAI, developed by employees of Elon Musk's company xAI, predicted how much the cryptocurrency XRP (XRP) will cost at the end of 2024.
GrokAI noted that the recent rise in the XRP price was due to external factors, such as the imminent dismissal of the head of the U.S. Securities and Exchange Commission Gary Gensler, who is known as an unyielding fighter against digital assets. Gensler's departure theoretically increases the likelihood of a favorable outcome for XRP's issuer, Ripple, in the legal battle with the regulator, which is set to continue in January 2025.
The chart of XRP price fluctuations also indicates a slight increase in the value of the coin. On December 19, during a dump, the cryptocurrency price broke through the 23.6% Fibonacci level considering the pump in the coin's value from $0.51 to $2.91. However, the bulls managed to take the initiative, and the asset price exceeded this barrier. If buyers can keep the cryptocurrency price above $2.34, then XRP may well rise to $2.5 or more.