gtag('config', 'G-0PFHD683JR');
Bitcoin

Why is the Ripple price (XRP) stuck? Chatgpt weighs

TL; D

  • Bitcoin planned the highest new level ever, and even Ethereum was able to spread some impressive gains last month. However, the distinctive symbol across the border failed to restore any of its previous momentum.
  • Here is what Chatgpt thinks about the current situation and what may be the reason for this. Also, will there be an outbreak soon?

The current scene

Many prominent encryption analysts have set in the past few weeks how important support levels are $ 2.3 and $ 2 for XRP future price movements. Previously, though, it was already broken to the negative side and many of them believe that the origin is preparing for another retreat towards the latter.

I remember that the last time XRP fell at $ 2 in early April, as the financial world prepared for the effective and continuous Trump tariffs against each country.

Although the economic situation has improved significantly in the following two months and many cryptocurrencies, such as the new peak mentioned above BTC and ETH, and great gains, XRP remained on the margin somewhat and stopped quickly during the boom about $ 2.6. (It was still) was confined to a descending pattern that witnessed a 6.5 % decrease on a weekly scale.

XRPUSD. Source: TradingView

Why that?

Chatgpt first included the wider market conditions as one of the reasons behind XRP stagnation, but this seems only accurate if we take into account last week, as many digital origins turned red. However, XRP was exceeded by ETH, BTC and many Alts, such as noise, on a monthly scale as well.

The solution of artificial intelligence indicated that the feelings and behavior of investors have recently changed towards XRP, as the noise in the elections after the United States has evaporated. Now, although Ripple has mainly won its legal battle against the Supreme Education Council, investors “choose to sell during simple price increases instead of maintaining long -term gains.”

Chatgpt mentioned the XRP features, where a billion new currencies are released monthly. According to its answer, this continues to add the pressure pressure to XRP and may hinder its progress.

“This continuous increase in available symbols can suppress price growth, especially if the demand does not follow.”

Regarding the issue of what XRP can help out of its unification, AI Chatbot said it may require a major change in the investor’s behavior, such as whales that follow a massive accumulation spray similar to that at the end of 2024, as well as a general improvement in the market. In addition, large partnership or acquisitions can taste a new gathering.

Special offer (sponsored)

Binance Free $ 600 (Full Details).

Limited offer for Cryptopotato readers in Bybit: Use this link to register and open a $ 500 free site on any coin!

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button