XRP gained 3% to trade at $1.08 on July 29, as discussion surrounding the CLARITY Act intensifies ahead of the potential August 3 vote that could shape the digital asset’s short-term price direction.
As U.S. senators have already released a revised draft of the act, combining proposals from the Senate Banking and Agriculture Committees into a single framework, Finbold turned to OpenAI’s leading artificial intelligence (AI) model, ChatGPT, to see where XRP might land ahead of the vote next week.
AI predicts XRP price ahead of CLARITY Act vote
In response, ChatGPT outlined three potential scenarios for XRP by August 3. The base-case scenario, it argued, comes with an XRP price target of approximately $1.15-$1.25 by voting day, which assumes the vote indeed does take place on the given date and manages to generate enough optimism among traders.
ChatGPT assigned the base-case scenario a 50% probability. Conversely, the bull case, which sees the asset trading between $1.28 and $1.135, and the bear case, which sees it dropping to somewhere between $1.02 and $1.08, each have a 25% chance of happening.
The bull case assumes strong bipartisan support for the bill, a stable Bitcoin (BTC), and sufficient trader-generated momentum. On the other hand, the bear case would become reality if the vote is delayed or fails to attract enough support, and if profit-taking outweighs regulatory optimism.
ChatGPT sets an XRP price target on August 3
Elaborating on the base-case prediction further, the chatbot narrowed down its forecast to $1.18.
At the same time, it noted that the most recent XRP price predictions have put the asset in the $1.1-$1.11 range, with $1.12 as immediate resistance and the $1.15-$1.2 serving as the next upside target.
From a technical viewpoint, XRP is now testing support near the 61.8% Fibonacci retracement level at $1.09. If buyers successfully defend this area and the Fed delivers a broadly neutral message today, July 29, XRP could indeed extend its recovery towards resistance at $1.12, with $1.15 emerging as the next upside target. In the long term, $3 has also emerged as a potential target this year.
Featured image via Shutterstock
