Cardano

Better

when

<p>The advancement of AI-based solutions in 2024 is undeniable, and we decided to poke OpenAI’s ChatGPT on a topic that’s quite interesting for many cryptocurrency enthusiasts.</p>
<p>Ripple and Cardano both have devoted communities, and it’s interesting to see what an impartial AI chatbot considers when determining which crypto will perform better throughout the rest of the year.</p>
<p>So, we asked it:</p>
<figure id="attachment_355881" aria-describedby="caption-attachment-355881" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-10.53.12.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-355881" src="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-10.53.12.png" alt="" width="834" height="174" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-10.53.12.png 834w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-10.53.12-300x63.png 300w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-10.53.12-768x160.png 768w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-10.53.12-50x10.png 50w" sizes="(max-width: 834px) 100vw, 834px"></a>
 <figcaption id="caption-attachment-355881" class="wp-caption-text">
  Source: ChatGPT
 </figcaption>
</figure>
<p>ChatGPT returned four reasonably interesting arguments, but before we take a look at them, let’s see how XRP and ADA prices did so far in 2024.</p>
<h2 id="xrp-vs-ada-year-to-date-price-performance">XRP vs. ADA Year-to-Date Price Performance</h2>
<p>At the time of this writing, XRP’s price is trading at slightly below $0.60, charting a 2% decline on the day.</p>
<p>Interestingly enough, the price has remained flat throughout 2024 so far. On January 1st, it was trading at $0.62, which is a tad bit better but negligible nonetheless.</p>
<figure id="attachment_355882" aria-describedby="caption-attachment-355882" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-11.08.55.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-355882" src="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-11.08.55.png" alt="" width="1616" height="728" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-11.08.55.png 1616w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-11.08.55-300x135.png 300w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-11.08.55-1024x461.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-11.08.55-768x346.png 768w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-11.08.55-1536x692.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-11.08.55-50x23.png 50w" sizes="(max-width: 1616px) 100vw, 1616px"></a>
 <figcaption id="caption-attachment-355882" class="wp-caption-text">
  Source: CoinMarketCap
 </figcaption>
</figure>
<p>And while XRP has failed to capitalize on the ADA, it has had it way worse. On January 1st, it was trading at around $0.59, while its current price is $0.38 – a 35% decline.</p>
<figure id="attachment_355883" aria-describedby="caption-attachment-355883" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-11.21.43.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-355883" src="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-11.21.43.png" alt="" width="1644" height="730" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-11.21.43.png 1644w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-11.21.43-300x133.png 300w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-11.21.43-1024x455.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-11.21.43-768x341.png 768w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-11.21.43-1536x682.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-25-at-11.21.43-50x22.png 50w" sizes="(max-width: 1644px) 100vw, 1644px"></a>
 <figcaption id="caption-attachment-355883" class="wp-caption-text">
  Source: CoinMarketCap
 </figcaption>
</figure>
<p>With that out of the way, let’s have a look at the four arguments that ChatGPT made when prompted with the question which of these two cryptocurrencies will perform better in 2024.</p>
<h2 id="ripple-xrp-and-cardano-ada-price-outlook-in-2024-chatgpt">Ripple (XRP) and Cardano (ADA) Price Outlook in 2024: ChatGPT</h2>
<h3 id="legal-clarity-and-regulatory-developments">Legal Clarity and Regulatory Developments</h3>
<p>According to the chatbot, this is an important point when determining the future price potential of both cryptocurrencies.</p>
<p>For Cardano, ChatGPT said that it has been able to “largely avoid major regulatory scrutiny compared to Ripple.” In addition,</p>
<blockquote>
 <p>Its focus on academic research and peer-reviewed development has positioned it as a more conservative project, which might appeal to long-term investors. However, it lacks the immediate catalysts that Ripple has.</p>
</blockquote>
<p>The catalysts that it mentioned include the conclusion of the lawsuit between the United States Securities and Exchange Commission and Ripple over whether or not XRP should fall within the securities category.</p>
<p>As&nbsp;<em>CryptoPotato&nbsp;</em><a href="https://cryptopotato.com/ripple-fined-125m-in-lawsuit-against-sec-xrp-price-soars-20-immediately/" data-wpel-link="internal" rel="noopener noreferrer nofollow">reported</a> earlier this month, Ripple was fined $125M by the US court, which also determined that XRP, when sold on centralized exchanges, is not a security. The fine represents a 94% discount on the SEC’s claim, and most investors consider it a sign of a potential victory. However, the Commission has still to decide whether or not it will appeal the decision.</p>
<h3 id="technological-developments-and-adoption">Technological Developments and Adoption</h3>
<p>The chatbot emphasized that Ripple is primarily focused on cross-border payments and has managed to establish multiple partnerships with various financial institutions.</p>
<p>Just recently, it <a href="https://cryptopotato.com/important-ripple-xrp-partnership-with-a-japanese-financial-giant-details/" data-wpel-link="internal" rel="noopener noreferrer nofollow">partnered</a> with SBI Digital Community, which is under the umbrella of the Japanese financial behemoth SBI Holdings, increasing the opportunities of individual users to use the XRP Ledger.</p>
<blockquote>
 <p>Any advancements in Ripple’s technology or partnerships could boost its performance.</p>
</blockquote>
<p>Cardano, on the other hand, is focused on delivering multiple upgrades as part of its roadmap, with the latest one being <a href="https://x.com/IOHK_Charles/status/1827011621455294743" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">scheduled</a> for September this year.</p>
<blockquote>
 <p>The success of these developments and their adoption could be a key driver for ADA.</p>
</blockquote>
<h3 id="market-sentiment">Market Sentiment</h3>
<p>According to ChatGPT, a favorable resolution in the lawsuit agains the SEC could lead to substantial gains for Ripple, improving the perception of investors toward the cryptocurrency and its overall market sentiment.</p>
<p>Meanwhile, Cardano has managed to build a strong community and, per the chatbot, “continues to be ivewed as a slow and steady project.”</p>
<blockquote>
 <p>Its focus on scalability, sustainability, and interoperability might attract long-term investors, especially if the crypto market trends toward more utility-driven projects.</p>
</blockquote>
<h3 id="broader-market-trends-and-macroeconomic-factors">Broader Market Trends and Macroeconomic Factors</h3>
<p>Quite expectedly, the braoder performance of the cryptocurrency market (heavily reliant on Bitcoin’s price) oftentimes has an impact on altcoins such as XRP and ADA.</p>
<p>“If the market is bullish, both could see substantial gains, whereas a bearish trend could affect them negatively.”</p>
<p>At the same time, decisions associated with any changes in interest rates, inflation, and global economic conditions can also play a role.</p>
<p>For example, the chairman of the US Federal Reserve recently <a href="https://cryptopotato.com/heres-everything-you-need-to-know-about-powells-jackson-hole-speech/" data-wpel-link="internal" rel="noopener noreferrer nofollow">said</a> that they are considering cutting interest rates, and the crypto market rallied after that.</p>
<p>The post <a href="https://cryptopotato.com/which-will-perform-better-in-2024-ripple-xrp-or-cardano-ada-4-arguments-from-chatgpt/" rel="noopener noreferrer nofollow">Which Will Perform Better in 2024: Ripple (XRP) or Cardano (ADA), 4 Arguments from ChatGPT</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.</p>

Which Will Perform Better in 2024: Ripple (XRP) or Cardano (ADA), 4 Arguments from ChatGPT

Table of Contents

CryptoPotato_News

Other articles published on Aug 25, 2024

Top Cosmos Projects by Staked Token Value: $TIA Leads with $4.68B

Top 50 Ethereum Holder Sells Portion of ETH Held Since 2015 to Load Up on Viral Meme Coin

Top Platforms for Advanced Staking Strategies

Hex Founder Richard Heart’s Bid to Dismiss SEC Fraud Lawsuit Fails

Wormhole and Arweave Up Over 10% In Past Weeks Trading, Rollblock Tipped To Be Next To Follow

ChatGPT Predicts Shiba Inu (SHIB) Price for September 1, 2024

Join our free newsletter for daily crypto updates!