Multiple projections expect XRP to soar to greater heights on the back of the final resolution of the Ripple v. SEC legal battle.
Recall that payments firm Ripple and the U.S. Securities and Exchange Commission (SEC) recently witnessed the end of their nearly four-year-old legal tussle. Notably, the SEC charged Ripple for allegedly violating securities provisions with its sales of XRP in December 2020.
Ripple Secures Partial Victory
After three years of constant legal arguments, the judge ruled last July that XRP in itself is not a security. In addition, the court found that Ripple did not violate securities laws for most of its XRP sales, as the SEC alleged. However, it was decided that the firm only broke the law through its previous sales to institutions.
Since last tear, both parties had presented their arguments on the appropriate penalties for this violation. Judge Analisa Torres recently ruled that Ripple should pay $125 million. While this figure is 94% less than the $2 billion fine proposed by the SEC, it is nearly 12 times more than Ripple’s $10 million proposition.
Nonetheless, Ripple executives such as CEO Brad Garlinghouse see the final ruling as a victory. XRP skyrocketed 30% beyond $0.64 on the back of the decision, partly confirming speculation that it could reach significant heights once the lawsuit concludes.
Despite facing a roadblock to the latest solo rally, XRP has maintained a green week, performing better than the rest of the market. With the asset currently changing hands at $0.6197, market participants insist its upsurge has not been exhausted.
Possible XRP Price Trajectories Following Lawsuit Resolution
Amid these speculations and the prevalent uncertainty, The Crypto Basic recently posed inquiries on the possible extent of XRP’s rally to AI chatbots ChatGPT by OpenAI and Grok from Elon Musk’s X platform. While both chatbots provided varied answers, some were more optimistic than others.
ChatGPT emphasized that projecting XRP’s growth rate in the back of the ruling remains speculative and challenging. However, the chatbot pointed to several factors capable of bolstering XRP’s run. These include institutional adoption of XRP, increased partnerships for Ripple, growing XRPL use cases and positive market sentiments.
ChatGPT presented three possible scenarios, citing these factors. For the “moderate growth” scenario, the chatbot predicted XRP to hit a price range of $5 to $10. However, in the “significant growth” scenario, ChatGPT expects XRP to reach $10 to $20. Meanwhile, the “parabolic growth” scenario presents a case for XRP to hit $50 or more.
While ChatGPT’s projections all consider favorable scenarios, Grok also points to unfavorable outcomes. According to Grok, if XRP witnesses increased adoption following the conclusion of the lawsuit, its price could hit $10. Nonetheless, the AI chatbot asserted that if regulatory challenges continue, XRP could drop to $0.1.
In the third scenario, Grok pointed to a moderate growth rate which would see XRP enjoy a mild increase in adoption. The chatbot expects XRP to reach $3 or above should this scenario materialize. However, it is important to note that XRP’s price trajectory might completely deviate from these projections.
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.
