Google’s AI resource Bard believes XRP has the potential to rally to $6 by 2024, ultimately setting a new all-time high if Ripple secures complete victory against the SEC.
The legal battle between Ripple and the U.S. SEC has continued to impact XRP’s price. For instance, in April 2021, XRP rallied to $1.9669. However, most pundits noted that the asset would have secured a much higher price had the SEC’s lawsuit not begun in December 2020.
Interestingly, the direction of the lawsuit over the years has also influenced XRP’s price movements in short timeframes.
Past Impact on XRP
On July 13, Ripple secured a partial victory in the legal battle with the U.S. SEC. The court ruled that some sales of XRP did not violate securities laws, while sales to institutional investors did violate the law. The court also ruled that XRP in itself is not a security. XRP rallied by over 97% from $0.47 to $0.93 on July 13.
However, the asset has corrected all the gains on that day. The SEC filed a motion to request an interlocutory appeal for parts of the July 13 ruling it lost.Â
Nonetheless, on Oct. 3, the court denied the SEC’s motion. Again, XRP rallied to a one-month high of $0.5479 on Oct. 3 following that ruling. However, the asset has again corrected these gains. The case is now heading to trial, scheduled for April 2024.
Potential Impact of Ripple’s Victory
The case is set for trial in April 2024. Citing these events, we asked Google’s AI resource Bard what it thinks XRP’s price would be if Ripple secures an ultimate victory in the lawsuit.Â
In the short term, Bard suggests that XRP could experience a significant surge, reaching a price between $2.50 and $3.00 if Ripple clinches ultimate victory. This would represent a substantial increase from its current price of $0.4816 but still short of its all-time high of $3.84.
Looking ahead to the end of 2023, Bard projects that XRP could attain a price range of $3.50 to $4.00, provided that the lawsuit concludes in Ripple’s favor and the overall cryptocurrency market experiences a bull run.Â
A further outlook into 2025 sees XRP potentially reaching the $5.00 to $6.00 range, assuming it continues to gather momentum and adoption in the market.
According to Bard, key elements supporting these forecasts are the factors that could potentially fuel an XRP price rally should Ripple emerge victorious in its legal tussle with the SEC:
Increased Certainty and Clarity
Bard highlights that if Ripple secures ultimate victory in the lawsuit, it will offer much-needed clarity and regulatory certainty for XRP investors and businesses. This is likely to foster greater investment and adoption of XRP.
Institutional Investor Demand
The uncertainty stemming from the SEC lawsuit has made institutional investors wary of XRP. However, Bard anticipates that a complete victory would remove this uncertainty, making XRP a more attractive prospect for institutional investors and increasing demand.
New Partnerships and Use Cases
The AI resource suggests that a successful outcome for Ripple could pave the way for new partnerships and innovative use cases for XRP. This would naturally drive up demand for the asset.
It is crucial to note that these projections are speculative and subject to change based on several variables. The actual price of XRP will depend on various factors, including the broader state of the cryptocurrency market.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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