XRP, SHIB, And ADA: ChatGPT Predicts 2024 Performance ...
According to CryptoPotato, the cryptocurrency market is currently experiencing a downturn, with many coins retreating from their yearly highs. The popular cryptocurrency Fear and Greed Index indicates a state of 'Extreme Fear,' reflecting the ongoing uncertainty among market participants. In light of this, a comparison was made between three popular altcoins:
XRP, SHIB, and ADA, to predict their performance in 2024 using ChatGPT.
XRP Performance
Ripple’s XRP is presently trading at around $0.56, having reached a yearly high of slightly above $0.7 in March 2024. Despite the overall market retracement, XRP appears to be the best performer among the three.
ChatGPT suggests that XRP could benefit from a favorable outcome in its ongoing legal battles. The AI model highlights that market sentiment around XRP is influenced by its utility in cross-border payments and potential institutional adoption, making it a strong contender for growth. Projections estimate that XRP could reach between $0.9 and $1.58 by the end of 2024.
ADA Performance
Regarding ADA, ChatGPT notes that its performance in 2024 could be mixed. Some predictions indicate a potential high of around $2.02, especially if market conditions turn bullish and the platform's technological developments lead to greater adoption. However, recent price volatility raises caution, with some forecasts suggesting ADA could struggle to break significant resistance levels unless broader market trends improve. ADA has recently faced challenges, with buyers unable to initiate a meaningful rally.
SHIB Performance
For SHIB, ChatGPT comments that its performance is heavily reliant on market sentiment, emphasizing its riskier nature due to its meme coin status. Despite this, the chatbot concludes that XRP seems to have the most promising outlook due to its utility and ongoing developments.
