TL;DR

• Ripple’s trial against the SEC in April 2024 is pivotal for XRP’s price.
• Partnerships with banks like HSBC and macroeconomic factors will impact its valuation.
• XRP is currently more trending than Bitcoin due to recent legal victories.

Could XRP Thrive Next Year?

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.

Regulatory clarity is mentioned as the most fundamental. Ripple’s legal battle against the United States Securities and Exchange Commission (SEC) is expected to reach a conclusion next spring as the trial date is set for April 23, 2024. 

Previously, the blockchain enterprise secured two landmark court victories, following which XRP’s price spiked significantly.

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 recently allowed eligible clients to conduct certain payments in XRP instead of fiat. However, those moves had little-to-no effect on the coin’s valuation.