XRP Set for Major Upswing with Key Year-End Catalysts

XRP has faced a rough year despite a generally bullish crypto market in 2024, trending downward to reach $0.53 as of October 29, marking a 14.19% decline since the beginning of the year.

Factors weighing on XRP include its ongoing legal battle with the SEC, which recently entered a new phase as Ripple filed a cross-appeal, as well as Ripple’s escrow releases that add substantial amounts of XRP to the market.

Many investors remain optimistic, looking to potential catalysts in the coming months. Advanced AI models, including ChatGPT-4o, suggest several drivers that could boost XRP’s price before year-end.

Key events include the Ripple Swell Conference, where new exchange partnerships and regulatory advances for RLUSD stablecoin were noted, along with Ripple’s $25 million investment in Bitnomial to advance XRP futures.

Another major factor is the potential approval of an XRP ETF, which would mirror the success seen with Bitcoin ETFs in driving institutional interest.

The AI model predicts that if several favorable developments occur, XRP could reach between $0.85 and $1 by the end of 2024, a projected increase of 60%-88%. Additionally, the Market Value to Realized Value (MVRV) ratio suggests XRP may be undervalued, offering further potential for gains should investor sentiment improve with these developments.