Daily trading volumes for crypto derivatives such as options and futures have surged this week hitting record highs on a number of exchanges.
The crypto derivatives exchange Deribit said in a Feb. 29 X post that its 24-hour trading volume hit an all-time high of $12.4 billion on the day.
It added open interest, the number of derivatives contracts that have yet to be closed or settled on the platform, had passed $29 billion, another all-time high. Deribit’s third record was its client assets which reached $4 billion, it said.
$XRP Price Prediction by ChatGPT – Will It Reach $10,000?
The prediction also includes BTC and ETH for a similar increase.
A recent claim shows that XRP’s price is projected to increase by 100,000% by 2024.
Comparing XRP’s potential growth to BTC’s historical growth, a 10x or 20x increase is more plausible for XRP.
In the ever-volatile world of crypto, bold claims and price predictions have become commonplace. Amid this landscape, a recent post on X shows that XRP’s price would skyrocket by an astonishing 100,000% by 2024.
According to the post, which is from a conversation with ChatGPT, an AI chatbot, Ripple (XRP), along with Bitcoin (BTC) and Ethereum (ETH), would be among the top five cryptocurrencies guaranteed to see a 100,000% increase by 2024.
XRP’s recent performance in the cryptocurrency market has been bearish, with the price falling below key moving averages. This decline is influenced by the ongoing legal battle between Ripple and the SE, creating uncertainty. Market experts suggest that XRP’s price decline is part of a typical market cycle where Bitcoin’s dominance overshadows altcoins.
At the time of writing, all of the three coins mentioned recorded a loss in the last 24 hours. CoinMarketCap data shows that XRP is currently trading at $0.479, representing a 1.89% drop, while BTC hovers at $26,760, close to its 24-hour low of $26,561. Ethereum’s ETH also suffered a 1.79% decline, settling at $1,550.