Ripple (XRP) or Cardano (ADA), 4 arguments by ChatGPT

The advancement of AI-based solutions in 2024 is undeniable and we decided to interview ChatGPT from OpenAI on a topic that is quite interesting for many cryptocurrency enthusiasts.

Both Ripple and Cardano have dedicated communities and it will be interesting to see what an unbiased AI chatbot considers when determining which cryptocurrency will perform better over the rest of the year.

So we asked it:

ChatGPT has made four quite interesting arguments, but before we look at those, let’s look at how XRP and ADA prices have performed so far in 2024.

XRP vs. ADA – price development since the beginning of the year

At the time of writing, the XRP price is just below $0.60, recording a 2% decline on the day.

Interestingly, the price has remained unchanged so far in 2024. On January 1, it was at $0.62, which is a little better but still negligible.

And while XRP has failed to capitalize on ADA, it has fared much worse. On January 1, it was trading at around $0.59, while its current price stands at $0.38 – a 35% drop.

Now that we have cleared that up, let’s look at the four arguments ChatGPT put forward when asked which of these two cryptocurrencies will perform better in 2024.

Ripple (XRP) and Cardano (ADA) Price Outlook in 2024: ChatGPT

Legal clarity and regulatory developments

According to the chatbot, this is an important point in determining the future price potential of both cryptocurrencies.

For Cardano, ChatGPT said it was able to “largely avoid major regulatory scrutiny” compared to Ripple. In addition,

The focus on academic research and peer-reviewed development has positioned it as a more conservative project that could appeal to long-term investors. However, it lacks the immediate catalysts that Ripple has.

Among the catalysts mentioned is the conclusion of the legal dispute between the US Securities and Exchange Commission (SEC) and Ripple over whether XRP should fall into the category of securities or not.

As CryptoPotato As reported earlier this month, Ripple was fined $125 million by the US court. The court also ruled that XRP, when sold on centralized exchanges, is not a security. The fine represents a 94% discount on the SEC’s demand and most investors see it as a sign of a possible victory. However, the commission has yet to decide whether or not it will appeal the decision.

Technological developments and introduction

The chatbot emphasized that Ripple focuses mainly on cross-border payments and has managed to establish several partnerships with various financial institutions.

The company recently partnered with SBI Digital Community, which is part of Japanese financial giant SBI Holdings, thereby expanding the ability of individual users to use the XRP Ledger.

Any advancement in Ripple’s technology or partnerships could boost its performance.

Cardano, on the other hand, is focused on delivering multiple upgrades as part of its roadmap, with the latest scheduled for September this year.

The success of these developments and their adoption could be an important driver for ADA.

Market sentiment

According to ChatGPT, a positive resolution in the legal dispute with the SEC could result in significant gains for Ripple and improve investor perception of the cryptocurrency as well as overall market sentiment.

Cardano has now managed to build a strong community and, according to the chatbot, “continues to be perceived as a slow and steady project.”

Its focus on scalability, sustainability and interoperability could attract long-term investors, especially if the crypto market sees a trend toward more utility-oriented projects.

Broader market trends and macroeconomic factors

It is quite expected that the general development of the cryptocurrency market (which is heavily dependent on the Bitcoin price) often has an impact on altcoins such as XRP and ADA.

“When the market is on the upswing, both could make significant gains, while a bearish trend could negatively impact them.”

At the same time, decisions related to changes in interest rates, inflation and global economic conditions may also play a role.

For example, the chairman of the US Federal Reserve recently said that they were considering cutting interest rates, which led to the crypto market recovering.