Partnerships with banks like HSBC and macroeconomic factors will impact its valuation.The popular AI-powered language model ChatGPT could not directly answer the question of whether the Ripple community will witness a price surge of XRP in 2024. However, it pinpointed several factors that could play a role in such a development.
Announcements of new banking partnerships or adoption by financial institutions come in the second position. It is worth mentioning that the British bank HSBC and the American behemoth Chase Bank recentlyeligible clients to conduct certain payments in XRP instead of fiat. However, those moves had little-to-no effect on the coin’s valuation.
It is safe to assume that a potential recession or any kind of financial crisis could have a negative effect on the entire cryptocurrency sector. On the other hand, positive news surrounding geopolitical conflicts or the Fed’s probable decision to halt its anti-inflationary policy could be welcomed by bulls.Besides speculating on the future price of the coin, it is important to observe its current condition.
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