Ripple still knows how to draw attention in itself

How Our News is Made

The article discusses the possibility of a Bitcoin price correction after its recent rally. Additionally, it highlights the predictive capabilities of ChatGPT in forecasting the Ripple token price.

May is generally a favorable month for the crypto market, with Bitcoin showing an average gain of 7.9% over the past twelve years.

May is generally a favorable month for the crypto market, with Bitcoin showing an average gain of 7.9% over the past twelve years.

ChatGPT predicts interesting developments that are not entirely aligned with the experts’ opinions.

As part of its broader rally, the Bitcoin price is approaching the psychological level of $100,000, opening opportunities for altcoins to capitalize on the buoyant market.

According to statistics, Bitcoin has closed May in the green nine times since 2010, as depicted in the graphic below. While past performance is not necessarily indicative of future results, it does offer some perspective.

Image: Data from Blockchain Center

A common topic of discussion among analysts is the possibility of a Bitcoin price correction after a rally of around 30%. However, pinpointing the exact timing of such a correction is a challenging task.

The consensus among analysts is that the Ripple token price will reach its all-time high of $3.84 by the end of the year, and this prediction is supported by ChatGPT.

When asked "Will Ripple rise?" the AI chatbot provides a detailed response, forecasting a token price above $4 by 2026. This prediction is partly influenced by the ongoing lawsuit filed by the U.S. SEC.

ChatGPT's predictions for the current year diverge from those of the analysts. The AI's prognosis does not indicate any increase in the token price this year, instead suggesting a decrease below the $2 level.

Our own market analysis indicates that if XRP falls below $2.13, then the mentioned rally will be ruled out. However, if the Ripple token manages to stay above that level, we anticipate a possibility of a 25% increase, which is also contingent upon the performance of the broader market, particularly Bitcoin.

If we consider the external factors affecting Ripple, especially the pending lawsuit, the token price could deviate from the Bitcoin trend. In the long run, both ChatGPT and the analysts agree that the Ripple token price will continue to rise.

According to Benzinga, Cathie Wood's investment firm, ARK Invest, has revealed in a new filing with the U.S. Securities and Exchange Commission (SEC) that it sold all of its remaining shares in Coinbase (NASDAQ:COIN) during the second quarter.

What Happened: ARK increased its holding in the cryptocurrency exchange in the first quarter to 744,640 shares, valued at $73.3 million, at an average price of $98.48 per share.

However, the investment firm gradually offloaded its entire Coinbase stake at an average price of $100.03 per share, realizing a total gain of $1.6 million on the investment.

The development comes amid a challenging period for Coinbase, which missed earnings estimates and saw its net revenue decline compared to the previous year.

Despite the disappointing results, ARK remains bullish on the cryptocurrency industry. In its latest report, the firm highlighted the potential for blockchain technology to transform various sectors, including finance, healthcare, and transportation.

"We believe that the blockchain revolution has the potential to create trillions of dollars in value for investors," ARK said in its report.

The investment firm also noted that the adoption of cryptocurrencies by major institutions, such as PayPal (NASDAQ:PYPL) and Square (NYSE:SQ), is a significant development that could accelerate the mainstream use of digital assets.

"The integration of cryptocurrencies into mainstream financial services is progressing rapidly," ARK added.

Earlier this year, ARK adjusted its optimistic price target for Bitcoin to $1 million by 2030, keeping its long-term bullish view on the flagship cryptocurrency. The firm's flagship fund, the ARK Innovation ETF (ARKK), lost 6.6% during the second quarter.