We asked ChatGPT when it’s the right time to buy XRP; Here’s what it said

Finance

We asked ChatGPT when it‘s the right time to buy XRP; Here’s what it said

XRP has lost the $3 support as bearish sentiment sweeps through the cryptocurrency market, with the artificial intelligence platform ChatGPT identifying the best moment to buy the token.

Notably, as of press time, XRP was valued at $2.98, having plunged about 3.4% in the past 24 hours. On the weekly timeframe, however, the asset has gained around 1.1%.

Regarding the ideal time to buy XRP, Finbold turned to OpenAIs ChatGPT, which outlined several buying strategies for the asset alongside factors likely to influence investment decisions.

For short-term traders, ChatGPT pointed to possible entry points if XRP pulls back toward support. The first zone lies between $2.70 and $2.75, with a stronger level around $2.50. If the price revisits and holds these areas, it could provide a safer buying opportunity.

Meanwhile, for swing traders, the AI model noted that the key areas to watch stand in the $3.20 to $3.30 range. According to ChatGPT, a strong breakout above this level, accompanied by volume, could signal a bullish continuation. In such a scenario, entering the breakout might allow investors to ride the next leg higher.

XRPs long buying strategy

Finally, for investors eyeing XRP for the long haul, with conviction that the asset will play a greater role in the financial space, ChatGPT suggested a dollar-cost averaging strategy. This involves spreading out purchases over time to reduce the risk of mistiming.

For specific price levels, the model stressed that investors could buy at the current price, add more on a dip near $2.50, and continue building a position if strength emerges above $3.30.

On the other hand, the AI maintained that buying XRP comes with significant risks, with broader market sentiment being the key aspect to watch. In this case, investors should monitor Bitcoin‘s price, as it tends to influence the asset’s trajectory.