Local presence of Ripple company XRPmanaged to gain nearly 2% in value in the last 24 hours. The token also recorded a gain of nearly 6% on a weekly basis. However, the altcoin is up over 80% since the beginning of 2023.
XRP began rising after a US court ruled that Ripple’s sale of the token to retail investors did not fall under securities law. The “non-security” status has led to the asset being interpreted as an attractive asset for many investors.
OpenAI’s AI (Artificial Intelligence) chat platform ChatGPTAccording to , XRP has the possibility of ending 2023 at a price of $3, but this is a bit difficult. This increase would require an increase of approximately 400% from current levels. ChatGPT made a prediction, citing Ripple’s recent partial victory in its battle with the SEC (Securities and Exchange Commission) and the possibility of a bull run in 2024. Many analysts expect the crypto market to rise in 2024 due to the high possibility of a spot Bitcoin ETF. Both developments could spark a 2021-like rally for the digital asset industry.
On the other hand, Google’s Bard AI offers a more conservative prediction for the XRP token. According to the AI bot, the altcoin could reach between $0.5 and $1.8. The AI platform also took into account market sentiment, regulatory oversight, and institutional adoption, among other factors.
Even though XRP has had incredible performance in 2023, some whale movements have caught the attention of the community. According to data on Whale Alert, 80 million XRP tokens were moved from Ripple to an unknown wallet. The value of the tokens is around $48.11 million. Additionally, another significant transaction caught the attention of the community when 26.70 million tokens were moved to Bitstamp, an exchange based in Luxembourg City.
Moving tokens to an exchange is bearish as it can increase selling pressure.