Markets
Elon Musk’s AI Predicts XRP Is Set for a 234% Bull Run to Multi-Year Highs
Elon Musk’s Grok AI predicts that XRP’s price will hit multi-year highs, predicting a possible 234% increase from the current price level.
As the cryptocurrency market buzzes with predictions of a more robust bull run, XRP finds itself in the spotlight. Zach Humphries recently I looked for ideas from Grok developed by Musk’s xAI on XRP’s price outlook. He directly asked whether XRP would see a price increase this year.
Grok responded positively, indicating a likely increase in the price of XRP within the year. He cited the predictions of many experts and analysts, predicting a bullish trend for XRP in 2024. Some predictions suggest a price target between $2 and $5, which represents a significant increase from its current value. Despite this optimism, Grok emphasized the volatile and unpredictable nature of cryptocurrency markets, noting that certainty is never guaranteed.
Specifically, XRP would need to increase by around 234.22% to reach $2 from its current price. Currently, XRP is trading at $0.5984 with trading volume up over 20% in the last day to $1,154,047,024.
Analysts Highlight XRP’s Bullish Patterns
Interestingly, a recent analysis by Coin Signal is in line with Grok’s optimistic view. According to his analysis, XRP’s monthly candlestick pattern reveals the formation of two symmetrical triangles over the past decade.
The first triangle, formed between 2014 and early 2017, led to a 70,000% surge, reaching an all-time high. A second symmetrical triangle, formed after XRP’s 2018 high of $3.84, suggests another potential top. Coin Signal see realistic targets for XRP between $2 and $4 in the current bull cycle.
Similarly, Captain Faibik’s analysis showed that XRP bulls are approaching a critical trendline resistance on the weekly chart. This resistance, part of a symmetrical triangle pattern, represents a significant hurdle. Faibik emphasized that a successful breakout could lead to a substantial price increase, with targets around $2.50.
Previous chatbot predictions about the future of XRP
Meanwhile, Grok’s prediction isn’t the first bullish XRP price projection from an AI chatbot. On July 8, The Crypto Basic reported ChatGPT’s XRP price predictions contingent on Ripple’s potential victory against the SEC.
The ongoing lawsuit has significantly impacted the price of XRP, with speculation suggesting that a favorable outcome for Ripple could lead to substantial price gains. ChatGPT has outlined conservative estimates of XRP rising between $3 and $5 if Ripple wins the case.
Google Bard, another AI chatbot, offered a cautious perspective, recognizing the difficulty of predicting cryptocurrency prices. Bard identified several factors that could boost XRP’s price, including the resolution of the SEC lawsuit, increased adoption, and positive market sentiment. However, he also highlighted potential hurdles, such as competition from other assets and regulatory pressure.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal views of the author and do not reflect the views of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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