XRP, SHIB or ADA? ChatGPT speculates

The cryptocurrency market is currently going through a rough patch, with many coins pulling back from their respective yearly highs.

According to the popular Cryptocurrency Fear and Greed Index, the market is currently in a state of “extreme fear,” indicating lingering uncertainty among participants.

That said, we decided to have some fun with ChatGPT and ask one of the most pressing questions, comparing three of the most popular altcoins in recent times: XRP, SHIB, and ADA. Which one will perform better in 2024? Let’s find out what the chatbot had to say.

A brief overview

Before discussing ChatGPT’s statement, however, let’s take a look at the current price performance of these three cryptocurrencies.

Ripple’s XRP is currently trading at around $0.56, after hitting a 2024 yearly high of just over $0.7 in March.

Shiba Inu (SHIB) reached a high of around $0.000036 in March and has since declined to its current level of $0.00001327.

Cardano (ADA) also hit its yearly high in March, when it traded near $0.8. Since then, the cryptocurrency has dropped to $0.33.

It’s clear that all of the cryptocurrencies mentioned above have pulled back from their yearly highs, but that’s more or less in line with the overall market. That said, it’s also clear that XRP seems to be the best performer so far.

Now let’s see what ChatGPT thinks about it.

And the winner is…

The AI-powered chat model indicates that XRP stands to benefit from a potential positive outcome in its ongoing legal battles. Additionally, ChatGPT stated:

Market sentiment around XRP is driven by its utility in cross-border payments and potential institutional adoption, making it a strong candidate for growth, especially if it successfully overcomes regulatory challenges.

According to some projections, this price could reach between $0.9 and $1.58 by the end of 2024.

On the other hand, he stipulated that “ADA’s performance in 2024 could be mixed.”

Some forecasts point to a potential high of around $2.02, especially if market conditions turn bullish and the platform’s ongoing technological developments lead to greater adoption. However, caution is also warranted due to recent price volatility, with some forecasts suggesting it may struggle to break through important resistance levels unless overall market trends improve.

Indeed, ADA has struggled recently, with buyers completely unable to push the price into any sort of meaningful rally.

Finally, ChatGPT commented on SHIB. He stated that “SHIB’s performance is highly dependent on market sentiment,” while highlighting its riskier nature due to its meme currency nature.

That said, the chatbot concluded that XRP appears to have the most promising prospects “due to its utility and ongoing developments.”