XRP Just Rebounded 70%: We Asked 3 AIs if Ripple’s Bear Market Is Over, But They Cautioned Us

What a time to be a part of the cryptocurrency markets. Unless, of course, you shorted the market on Wednesday. Then, you might have been caught on the wrong side.

XRP was a no-show for weeks (and months). The token lost multiple key support zones on its painful way down and eventually slumped to $1.00. It even dipped below that level on a couple of occasions last week for the first time in 21 months.

Then it all changed. On Wednesday afternoon bitcoin rallied the altcoin troops and initiated a market-wide revival. Ripple’s token was a little late to the party, but once it arrived, it blew the roof off this place by skyrocketing from $1.00 to $1.42 within a day or two, marking a multi-month high. The bulls kept going until Saturday morning, driving the asset to $1.70 – or a 70% surge in days.

However, it was violently rejected there and is now back toward $1.40. As such, the question is whether the bear market has ended. After all, XRP is well in the green on a weekly and monthly scale.

Has It? Has It?

First, we asked ChatGPT. It admitted that the move was “huge” and that it “absolutely changes the short-term picture.” However, it cautioned investors that it doesn’t necessarily mean the bear cycle has ended. In fact, it put the odds that the $0.98-$0.99 low was the bottom at just 55%, compared to 70% that BTC’s $57.8K drop in early July was as low as the asset would go.

… Continue reading the full article at the original source below.