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- The Ripple v. SEC trial in April 2024 is pivotal for the price of XRP.
- Partnerships with banks such as HSBC and macroeconomic factors will influence its valuation.
- XRP is currently more popular than Bitcoin due to recent legal victories.
Can XRP boom next year?
The popular AI-powered language model ChatGPT could not directly answer the question of whether the Ripple community will see a rise in XRP prices in 2024. However, it identified several factors that could play a role in such a development.
Regulatory clarity is cited as most important. Ripple’s legal battle against the US Securities and Exchange Commission (SEC) is expected to end next spring as the trial date is… hiring For April 23, 2024.
Previously, it was the blockchain enterprise Believer Two historic court victories, after which the price of XRP rose significantly.
Announcements of new banking partnerships or accreditation of financial institutions come in second place. It is worth noting that the British bank HSBC and the giant American bank Chase Bank recently… Permissible Customers who are eligible to make certain payments in XRP instead of fiat currencies. However, these moves had little or no impact on the currency’s valuation.
General cryptocurrency market trends, technological advancements, supply and demand, speculation, and others complete the list of items. Among the factors that deserve special attention is the global macroeconomic environment.
It is safe to assume that a potential recession or any type of financial crisis could have a negative impact on the entire cryptocurrency sector. On the other hand, positive news surrounding geopolitical conflicts or the Fed’s potential decision to halt its anti-inflationary policy could be welcomed by bulls.
XRP is currently the most popular cryptocurrency
Besides speculating on the future price of a currency, it is important to monitor its current condition. Ripple’s latest victory has come against its big enemy – the US Securities and Exchange Commission I turned The asset is one of the highest traded assets in the entire crypto world.
XRP attracted huge attention and was among the best performing coins after Ripple’s historic first win in July as well. At that time, the trades involved the token Composed 21% of the total cryptocurrency trading volume, while Bitcoin (BTC) came in second place with 20%.
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