Ripple’s XRP token is one of the most popular crypto assets in the market right now. From Jan. 1, 2023, to Jan. 1, 2024, XRP’s price has surged by around 80%. Although the growth is commendable, Solana’s (SOL) near-1000% growth and Bitcoin’s (BTC) over 150% growth in the same time frame overshadows XRP’s rise.
Also Read: Ripple XRP: Banker Explains When It Can Hit $2,500
XRP’s price growth in 2023 could be due to a favorable ruling from a district court in the SEC vs. Ripple lawsuit. The court ruled that selling XRP to retail clients did not breach securities laws. However, the lawsuit has entered the high court, and investors await a verdict.
ChatGPT’s prediction for Ripple’s XRP token
According to the popular AI (Artificial Intelligence) chatbot ChatGPT, XRP could rally by over 560% and hit $4 if it meets certain factors. According to the chatbot, strategic positioning would help the asset meet the $4 target. Investors could plan their entry and exit points to not fall for market manipulation.
Also Read: Ripple (XRP) What $1000 Investment 10 Years Ago is Worth Today
Furthermore, the chatbot commented on how AI can help the project with “communication strategies that indirectly influence perceptions through subtle narratives, emphasizing positive developments, partnerships, or technological advancements.”
Lastly, the chatbot highlighted how regulatory arbitrage can help usher in a price spike. Ripple’s XRP faces regulatory uncertainty from its lawsuit with the SEC (Securities and Exchange Commission). If Ripple receives a favorable verdict, we may see a surge in adoption, leading to a price spike.
Also Read: Ripple’s XRP to Rally 90% and Hit $1.20: Predicts Analyst
Moreover, Ripple has secured several partnerships with financial institutions for remittance purposes. The fintech company is also working on CBDC (Central Bank Digital Currency) transfer services, which could also lead to a surge in adoption.
Credit: Source link
