Last Updated on January 20, 2024 by SPN Editor
Grok AI made headlines previously for designating a cryptocurrency as the preferred payment medium on X. Grok’s projections for XRP Price for the end of 2024 have stirred discussions. In its bullish outlook, Grok predicts XRP will trade between $1.00 and $1.50.
Meanwhile, its bearish outlook sets Ripple’s token price in the range of $0.30 to $0.50. Here are Grok AI’s bullish and bearish outputs on XRP Price for the end of 2024:
Grok’s Bullish Prediction on XRP Price:
“Based on the current price of $0.55 and considering the potential for a favorable resolution to the SEC case, the growth of the crypto market in general, and the potential for increased adoption of XRP by financial institutions, the bullish prediction for XRP by the end of 2024 would be in the range of $1.00 to $1.50.” — Grok, by xAI
Grok’s Bearish Prediction for XRP Price:
“On the other hand, taking into account the ongoing SEC case, the potential negative impact of Ripple’s monthly XRP sales, and the possibility of a downward breakout from the multi-year parallel channel, the bearish prediction for XRP by the end of 2024 would be in the range of $0.30 to $0.50.” — Grok, by xAI
In summary, a bull run to Grok’s highest prediction would result in a 172% gain from the current XRP price of $0.55. Conversely, a drop to Grok’s projected $0.30 would penalize investors with a 45% loss, wiping out nearly half of their holdings in dollars.
It’s worth noting that both projections align with a trend analysis by cryptocurrency trading expert Ali Martinez (@ali_charts, on X), who recently cautioned of a bearish breakout if XRP fails to hold its current prices. However, it’s crucial to remember that artificial intelligence is susceptible to errors, and investors should exercise caution. Despite the insights provided by experts or advanced AIs like Grok, cryptocurrencies remain highly unpredictable.
About Grok AI
Grok has swiftly garnered attention among users of the social platform X (formerly Twitter) and those involved in cryptocurrency markets. Developed by xAI, a company under the guidance of Elon Musk, Grok AI stands out as an advanced AI in the tech billionaire’s expansive portfolio.
What sets Grok apart is its claim to be highly receptive to diverse data streams. Its strength lies in real-time analysis, leveraging user-generated content from X to stay informed about current information. This nuanced approach has positioned it as a noteworthy model in AI circles.
What Other Predictions on the XRP Price?
In the meantime, various indicators are suggesting that Ripple (XRP) is gearing up for a substantial price surge, potentially reaching $11 or even higher shortly.
Ripple’s performance in the last quarter of 2023 was modest, with only a 17% gain, notably lagging behind leading cryptocurrencies like Bitcoin and Solana. This less-than-impressive performance has led some XRP investors to question the token’s potential.
Nevertheless, a notable crypto analyst, EGRAG, advises patience among XRP holders, highlighting technical signals that indicate a significant uptrend he refers to as a “Gamma-Ray Burst” (GRB).
An analogy to high-energy astrophysical events, the GRB concept is utilized by EGRAG to describe explosive price movements in the crypto markets. Drawing parallels to XRP’s past rally during the 2017 crypto bull run, where it surged from $0.0030 to $3.31 between January 2017 and 2018, EGRAG anticipates a second GRB event that could propel XRP price to $11 in the current cycle.
This would represent an impressive nearly 1,500% surge from its current levels of approximately $0.70. Additionally, EGRAG suggests that even higher targets, such as $33 and $220, are within the realm of possibility.
Changelly, a leading exchange, echoes similar sentiments, anticipating Ripple XRP surpassing the $11 milestone, possibly as early as 2031, but more realistically in the subsequent years. Aligning with EGRAG’s perspective, Changelly attributes this potential surge to clearer regulations and the expanding adoption of cryptocurrencies acting as favorable factors for XRP.