XRP could skyrocket 178%, according to Bard, the popular artificial intelligence (AI) chatbot from Google, which projects a $0.5 to $1.8 price for XRP by the start of 2024.
With 2023 wrapping up, many traders in the crypto market are already looking ahead to what the future holds. Bard, the large language model (LLM)-powered chatbot, believes XRP could have a favorable future, projecting a $1.8 price. This represents a 178% surge from the current $0.6456 value.
XRP Growth Conditions Set by Bard
Though optimistic, Bard said the projected price range is an estimate, as the market valuation of XRP may either be lower or higher to reflect the realities by that time.
The AI chatbot named XRP’s historical records, the broader market outlook, adoption from corporate firms, and the impact of regulations as some of the factors that can impact on the coin’s price.
The market outlook factor is significant, considering the correlation of XRP to Bitcoin (BTC) and its susceptibility to events surrounding the bigger cryptocurrency.
Notably, the conversations surrounding a Bitcoin spot ETF over the past weeks gave XRP wings to touch a high of $0.72 in the past month. Though prices have returned to their average level, general market sentiment can still shape XRP’s future.
XRP was the subject of a regulatory battle between Ripple Labs and the SEC, however, the coin is now in the clear following its declaration as a non-security in a July 13 ruling by Judge Analisa Torres. External regulatory uncertainty in the market might still fuel a drawdown for XRP and traders need to watch for this.
In recent times, the industry has witnessed pivotal collaborations, like the Ripple and Uphold partnership, that might drive the institutional adoption of XRP.
XRP to $1.8 is Not a Groundbreaking Move
It is worth noting that should Bard’s prediction that XRP can hit $1.8 come through, industry leaders might not tag it a groundbreaking resurgence.
Agreeably, the rally will intrigue members of the XRP community, but since XRP has soared to an all-time high (ATH) of $3.84 in the past implies the coin is inherently undervalued. A push to $1.8 could be just the start of something more pivotal.