The launch of the text-based artificial intelligence (AI) platform ChatGPT has reinvigorated the public’s interest in the technology, as it demonstrates utility across various areas, including providing insight into the future price of cryptocurrency assets like XRP.
With this in mind, Finbold asked ChatGPT to share XRP’s possible price by 2030 based on various metrics, including chart patterns, technical analysis (TA), as well as the outcome of the legal battle that the United States Securities and Exchange Commission (SEC) is waging against blockchain company Ripple.
As it happens, the AI tool remained insistent that it was difficult to provide a reliable prediction of the price of XRP by 2030, citing regulatory uncertainty, variable market sentiment, technological development, and other factors:
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“The future price of cryptocurrencies, including XRP, is highly uncertain and subject to many factors, such as regulatory changes, market trends, and technological advancements, among others. Even with access to various tools for technical analysis, traditional chart patterns, and AI algorithm predictions, it is impossible to accurately predict the future price of cryptocurrencies.”
Effect of Ripple v. SEC
However, ChatGPT did acknowledge the impact of the Ripple v. SEC lawsuit, for which it earlier said, “Ripple’s argument that XRP is not a security is likely to be more persuasive,” highlighting the company’s persistent reasoning that XRP “has been used for years as a currency and not as an investment, which further supports its argument that XRP is not a security.”
According to the AI:
“Additionally, the outcome of the Ripple v. SEC lawsuit is also likely to have a significant impact on the future price of XRP, but the outcome of the lawsuit is currently unknown.”
Finally, ChatGPT conluced with a piece of advice to “exercise caution when making any investment decisions and to thoroughly research and understand the risks involved.”
XRP price analysis
As things stand, XRP is recording declines across multiple charts, including dropping 5.42% across the last 24 hours, 9.07% compared to the previous seven days, as well as 5.98% over the past month, as per the latest data retrieved on February 13.
Meanwhile, the cryptocurrency community over at CoinMarketCap has bullish expectations for the price of XRP, projecting it would trade at $0.4133 by February 28, slightly lower compared to its earlier predictions reported by Finbold on February 7.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
