Though XRP has not been a particularly active participant in the crypto market rally of the first quarter of 2024, things have been far from quiet for the cryptocurrency.
Indeed, much activity has emerged from Ripple Labs – XRP’s issuer – and has included significant monthly token unlocks, a reported entry into the stablecoin game, and perhaps most consequentially, the continuation of the long-standing legal battle with the Securities and Exchange Commission.
The courtroom fight is also, after many years, seemingly entering its final chapter, with Ripple recently filing a motion to seal certain sensitive business data. The outcome of the case is bound to be consequential and could help XRP, in particular, surge toward its previous all-time highs (ATH) near $3.
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With the promise of pending regulatory clarity and the still-persistent uncertainty in mind, Finbold decided to consult the most advanced version of OpenAI’s flagship artificial intelligence (AI) platform – ChatGPT-4o – on where XPR might stand at the very end of 2024.
ChatGPT sets XRP price for late December 2024
Upon analyzing the recent crypto market trends and XRP-related happenings, ChatGPT concluded that the token is likely to see a significant rise in value through the rest of 2024.
According to the AI, the facts that a victory for Ripple is in the cards and that the company has actively been working on developing its ecosystem and partnerships are likely to help drive positive market action.
ChatGPT, however, also reflected on mixed results of technical analysis (TA) assessing XRP’s recent performance and thus concluded that, between the likely positive developments and the current struggles, the token is likely to rise to $0.80 by the end of the year.
When challenged that its analysis appears low given that the AI assumed a legal victory for Ripple, ChatGPT pushed back, stating that the current market conditions – while allowing for a greater long-term surge – would still limit how much XRP can rise before 2024 is out and described its target of $0.80 as a ‘conservative but realistic estimate.’
ChatGPT presents a bullish scenario
ChatGPT was also willing to indulge in a more bullish sequence of events. In this scenario, a legal victory against the SEC would have a ripple effect that would cause wider user and institutional adoption across the globe, facilitate an unprecedented pace of innovation, and turn the market highly bullish.
Should such regulatory clarity be achieved, and should the stars align – a scenario the AI considers plausible, if not the most likely – XRP could soar to $3 per token by the end of 2024.
ChatGPT presents a bearish scenario
ChatGPT, however, also estimates a bearish scenario in which Ripple suffers a major legal defeat against the SEC is plausible.
Under these circumstances, the AI assesses, regulators across the world would feel emboldened to besiege the crypto industry and investors could, spooked by the developments, turn sour on cryptocurrencies.
These factors would, combined, also stifle further technological developments and ultimately lead to a crash to $0.15 for XRP by the end of 2024.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
