Recently, we asked OpenAI’s ChatGPT to suggest the potential value of XRP in a scenario where Bitcoin attains a new peak at $155,000.
This comes amid suggestions from market analysts that the $155K price point could be in the cards for the premier crypto after the recent $71K re-entry. Meanwhile, XRP continues to underwhelm, even threatening to retest the $0.4 price channel in the last 24 hours.
ChatGPT XRP Outlook with Bitcoin at $155k
ChatGPT recognized that estimating XRP’s price in the event of Bitcoin reaching $155,000 is complex. While noting the absence of a straightforward method to determine XRP’s value from Bitcoin’s price, it pointed out that past trends might offer some clues.
Accordingly, the AI chatbot highlighted the historical correction in the movement of Bitcoin and altcoins like XRP, noting that a significant surge in Bitcoin generates a proportionate upswing for altcoins.
Meanwhile, ChatGPT noted that as Bitcoin’s price approaches $155,000, its dominance would determine altcoins’ fate. Specifically, it mentioned that if Bitcoin maintains a high dominance after reaching $155K, altcoins may not witness comparable increases. On the flip side, a decline in Bitcoin’s dominance could redirect investment into altcoins like XRP.
Backing this view, ChatGPT cited historical records, such as the 2017 cycle, when XRP peaked at $3.84 after Bitcoin settled above $20K. Notably, XRP outperformed Bitcoin by registering an above-750-fold price gain.
To gauge XRP’s outlook for this season, ChatGPT drew on the peak values of Bitcoin and XRP in the 2021 cycle. Given an increase from approximately $69K to $155K at a ratio of 2.25, ChatGPT projected a similar growth ratio for XRP. Applying this ratio suggests that XRP’s 2021 high of $1.96 could rise to $4.41.
However, unlike Bitcoin, which is currently close to its 2021 all-time high, XRP is significantly down from its 2021 peak. In particular, XRP trades at $0.5199 as of today. Applying Bitcoin’s projected growth ratio of 2.25 suggests that XRP’s attainable price point would be $1.16.
Analysts Disagree
Meanwhile, independent analysts have expressed strong disagreement with this outlook. They believe XRP would similarly set a new all-time high should Bitcoin attain $155k. For instance, Crypto Benny, who recently projected the $155K price for Bitcoin, set $5 as XRP’s target.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
