XRP’s price has been on a rollercoaster ride for the entire third quarter of 2023. Even though it’s not technically over, it’s perhaps interesting to explore what might happen to the cryptocurrency in the last three months of the year.
As seen in the following chart, XRP has withdrawn from the highs achieved following the beneficial ruling for Ripple in the case against the US Securities and Exchange Commission and has entirely erased the gains made in July.
The last three months of 2023 are almost upon us and with it, many are interested in how the XRP price will perform throughout the period.
We decided to ask ChatGPT on what are the factors that might influence a potential increase in XRP’s valuation.
Right off the bat, the AI-based chatbot believes that market sentiment would be critical for potential gains:
Positive sentiment from investors and traders can drive up the price of XRP. News, social media trends, and public perception can all play a role in shaping sentiment.
Moving over, in second place, ChatGPT put Adoption and Use Cases. Increased adoption of XRP can potentially drive demand and, in turn, gains.
On that matter, CryptoPotato reported earlier that Ripple Labs – the company behind XRP – recently extended its liquidity hub to two new countries – Brazil and Australia. Moreover, there’s an important upgrade that’s supposed to happen in the coming weeks. It will see the integration of two very critical new features – the automated market maker and the clawback feature.
Another critical factor is the outcome of the case between the United States Securities and Exchange Commission and Ripple.
If Ripple wins, it’s highly likely that the price will gain massive momentum. We’ve already seen a practice run in July when Judge Analisa Torres ruled partially in favor of Ripple. XRP doubled in a day.
But the chances of that case getting resolved in the next three months seem slim. Other factors that could potentially drive XRP’s price up include:
Partnerships and integrations
Technology developments, etc.
We also have a video that looks into how XRP could perform in the next bull run and the factors to consider:
And it’s here that we should also mention one outrageous and, perhaps, kind of out-of-touch prediction of XRP reaching a whopping valuation of $500.
Shannon Torp – a popular cryptocurrency analyst – suggested that XRP could reach $500 in the next four years based on the cross-border payments market reaching a capitalization of $250 trillion.
The post Ripple (XRP) Price Preditction for Q4 2023, Will the Market Turn? appeared first on CryptoPotato.
Blog powered by G6
Disclaimer! A guest author has made this post. G6 has not checked the post. its content and attachments and under no circumstances will G6 be held responsible or liable in any way for any claims, damages, losses, expenses, costs or liabilities whatsoever (including, without limitation, any direct or indirect damages for loss of profits, business interruption or loss of information) resulting or arising directly or indirectly from your use of or inability to use this website or any websites linked to it, or from your reliance on the information and material on this website, even if the G6 has been advised of the possibility of such damages in advance.
For any inquiries, please contact [email protected]