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Cryptocurrency analyst Vincent explained why XRP price could rise to $10,000 at some point. This comes amidst the recent XRP rally, with the cryptocurrency currently aiming for an all-time high (ATH) of $3.8.
Why XRP price reaches $10,000
In a post on X, Vincent revealed that he consulted ChatGPT and was told by the AI chatbot that the XRP price could easily reach $10,000 per coin. XRP's market capitalization is one of the reasons that has been used as an argument as to why the cryptocurrency cannot achieve such price levels. Analysts said that ChatGPT also invalidates the market capitalization argument and that monetary market capitalization is an invalid metric.
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Vincent did not specify when ChatGPT said the XRP price could reach such an ambitious price target. However, he said he has discussed AI chatbots and Ripple. This suggests that ChatGPT may have considered the impact of Ripple before making this $10,000 prediction.
In fact, Ripple could play a big role if XRP price approaches or reaches this $10,000 goal. Cryptocurrency analyst Cryptotank predicts that XRP could reach $1,000 while mentioning Ripple payment services, saying the crypto company's payment rails are used to process most cross-border transactions. I have given an example of what has been done.
As Ripple's payment services become more widely adopted, the use cases for XRP will increase, providing a bullish outlook for XRP price. On the other hand, it's also worth mentioning the equally bullish XRP ETF. The U.S. Securities and Exchange Commission (SEC) may approve these funds next year, especially with reports that cryptocurrency advocate Paul Atkins could replace Gary Gensler. has been done.
These funds will drive an influx of institutional investors into the XRP ecosystem, causing significant price appreciation. However, it remains to be seen whether they will be able to push the cryptocurrency into five digits.
Recovery to double digits this cycle
In this high prediction of XRP price of $10,000, crypto analyst Mickey Bull Crypto predicted that the cryptocurrency could rise to double digits this market cycle. This gives XRP a 2017 bull market feel and suggests the cryptocurrency could repeat its legendary 61,000% rise during the 2017 bull market. It happened when the analyst said.
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Source:X
In line with this, crypto analysts predicted that XRP price would reach $2, experience a rebound, and then continue its vertical rise, possibly to a new cycle high of $10. Using Elliott Wave Theory, crypto analyst Dark Defender predicted that this bull run could send XRP as high as $18.
At the time of writing, XRP price was trading around $1.90, up more than 18% in the past 24 hours, according to data from CoinMarketCap.
XRP rises towards $2 | Source: XRPSDT on Tradingview.com
Featured image created by Dall.E, chart on Tradingview.com
