The post ChatGPT claims XRP will reach $10 in 2024 – Do the indicators agree? appeared on BitcoinEthereumNews.com.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. Ripple [XRP] has stabilized after gaining momentum a few weeks ago and has not shown the same amount of fluctuation as other cryptocurrencies. While XRP has lately positioned itself as the fourth-largest asset, Ripple has experienced a considerable increase in accumulation among its key holders over the last week. Despite this steady accumulation trend, there has been a recent decline in total supply in a lucrative position. So this leaves XRP holders in a difficult situation right now. And XRP holders are curious to know whether the favorable court ruling will help the coin gain further momentum and make 2024 any different. Ripple Labs and XRP — What’s the relationship? XRP is a cryptocurrency that Ripple Labs uses to conduct transactions on its network. While Ripple is a centralized fintech company that began as Ripplepay in 2004, it was later co-founded by Chris Larsen and Jed McCaleb in 2012 with the vision of creating a faster and more secure way of doing transactions around the world.  Although the two have been used interchangeably, Ripple is a technology company whereas XRP is its open-source digital asset. The crypto operates on its blockchain known as the XRP ledger (XRPL) where transactions are facilitated by RTXP or the Ripple transaction protocol. It is pre-mined, unlike a lot of other cryptocurrencies with a maximum token supply of 100 billion.  The main purpose of the crypto is to serve as a settlement layer that aids in transactions with the Ripple network. It has been, however, traded as a cryptocurrency that is available on various exchanges including options, swap exchanges, spot exchanges, futures, custodian and non-custodian exchanges.  Battling the SEC The United States SEC filed…

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Filed under: News - @ December 31, 2023 2:14 pm