XRP ETF Launch Looms: AIs Warn Of Price Volatility

Canary Capital is scheduled to launch the first US-based spot XRP ETF on November 13, bypassing standard approval processes. To assess market expectations, we consulted ChatGPT and Perplexity AI regarding potential price movements.

XRP’s price has fluctuated significantly since November’s start, plummeting below $2.10 before spiking to nearly $2.60. Currently, it struggles to maintain levels above $2.40, despite large-scale XRP sales by major holders.

Perplexity AI highlighted ongoing selling pressure from large XRP holders moving assets to exchanges, suggesting a potential “buy-the-rumor, sell-the-news” scenario. Historical precedent with ETH and BTC ETF launches indicates a rally leading up to the event, followed by a moderate pullback as traders take profits.

ChatGPT AI predicts an initial spike to around $3.00 following the launch, followed by a sharp rejection and pullback to between $2.00 and $2.20. Both AIs believe the ETF’s existence is fundamentally bullish for XRP’s long-term performance.

Perplexity suggests XRP could stabilize and resume upward momentum after a potential initial dip, potentially establishing a base around $2.40 in the weeks following the launch. ChatGPT also anticipates that the “real trend” will become evident within 1-3 months, depending on ETF inflows.

Continued ETF inflows are predicted to drive a gradual recovery and new highs, while weak inflows could lead to a prolonged correction or range-bound trading. The longer-term outlook for XRP remains dependent on actual investment flows following the ETF launch.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.