ChatGPT predicts that XRP prices if Ripple wins against the SEC in the final verdict.
The ongoing lawsuit between the SEC and Ripple is one factor influencing the price of XRP over the years. Recall that the SEC charged Ripple in 2020, alleging that the company violated securities laws while selling the coin to retail and institutional investors.
Since the SEC filed its lawsuit on Dec. 22, 2020, XRP has endured a bearish trend. While most digital assets recorded new all-time highs (ATHs) in 2021, XRP failed to surpass its previous record of $3.84, registered on Jan. 4, 2018.
As a result, several speculations suggest that XRP’s adverse price action could persist until the multi-year lawsuit ends with a favorable outcome for Ripple. Recall that XRP spiked to $0.93 in July 2023 when Judge Torres issued her summary judgment decision, with Ripple securing a partial victory.
This reignited investor optimism about an astronomical rally for XRP once the judge issued the final verdict in favor of Ripple. So far, the parties have filed the relevant briefs relating to remedies. Consequently, top legal and crypto experts, including Ripple CEO Brad Garlinghouse, expect that the parties could see a final resolution before the end of this year.
With the final verdict expected to be issued this year, we asked ChatGPT to predict XRP’s price if Ripple wins. Interestingly, the popular AI chatbot projected that XRP would spike tremendously should Ripple emerge victorious in the final verdict.
Factors Influencing XRP’s Potential Price Increase
The chatbot highlighted three factors that could propel XRP’s price for an astronomical rally should Ripple emerge victorious.
Topping the list is regulatory clarity. ChatGPT stated that a victory for Ripple could pave the way for the much-needed regulatory clarity that could potentially drive XRP’s adoption.
Additionally, the chatbot suggested that XRP has been trading in a multi-year symmetrical triangle, suggesting that a breakout fueled by a Ripple win could lead to a significant upward price action.
Lastly, ChatGPT highlighted XRP’s historical performance and accumulation as another factor that could drive the coin’s price. It recognized the widespread accumulation of XRP by crypto whales over the years. According to ChatGPT, this long-term holding could bolster the price if new investors purchase XRP following a favorable ruling for Ripple.
XRP Targets If Ripple Wins SEC Lawsuit
Therefore, it outlined the price targets for XRP in three categories: conservative, moderate, and aggressive estimates.
The first category provides a conservative estimate that suggests that XRP could soar between $3 and $5 if Ripple emerged victorious over the SEC. ChatGPT relied on XRP’s accumulation pattern and previous ATH to issue this prediction.
For the moderate estimate, ChatGPT speculated that a favorable victory for Ripple could raise XRP’s price to $5 to $10. Notably, factors that could drive XRP’s price up to $10 include institutional interest, broader adoption, and new Ripple partnerships.
ChatGPT’s aggressive estimate projects that XRP could soar between $10 and $20 or more if the final verdict goes in Ripple’s favor. However, the chatbot pointed out that XRP will only hit this target if it gains significant market adoption and new use cases post-Ripple lawsuit.
Despite these predictions, there is a need to exercise caution when investing in cryptos, including XRP. The speculative nature of cryptos poses a challenge to providing accurate estimates regarding the future price actions of this asset class.
In the meantime, XRP is currently down 5.06% in 24 hours to $0.4204. At the current price, XRP is down 89.07% from its ATH and 12.04% in the weekly charts.
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.
