The price trajectory of XRP has been a topic of discussion and speculation within the cryptocurrency community. With the ongoing lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC) nearing a resolution, many investors are looking toward the future of XRP.
Attempting to gain insights, we asked ChatGPT, OpenAI’s Large Language Model (LLM) about its prediction for XRP price by the end of 2024.
ChatGPT Shares XRP’s Potential Price
ChatGPT, the top AI-powered LLM in the world, predicted that XRP could reach $3 by December 2024. This price point represents a significant increase of 496% from its current price of $0.5033 and sits just below XRP’s all-time high of $3.84, reached in January 2018.
ChatGPT listed two factors that could help propel XRP to this price. The first factor is the regulatory clarity that could come with the end of the lawsuit. Many analysts believe the end of the lawsuit could kickstart a massive surge for XRP.
A favorable resolution for Ripple in the form of a low penalty will spare the company serious financial harm. It will also remove a major obstacle for many potential XRP investors in the United States.
It could also encourage institutions to increase partnerships with XRP, another factor ChatGPT highlighted that could lead to massive growth for XRP.
Finally, ChatGPT mentioned increased adoption in cross-border payments and as a Central Bank Digital Currency (CBDC). Ripple designed XRP to facilitate faster and more cost-effective cross-border transactions. Increasing adoption of Ripple’s technology will increase XRP’s adoption. This increase, in turn, would incentivize institutions to hold and use XRP, potentially driving up its price.
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What’s Next for XRP?
It is important to acknowledge that the cryptocurrency market does not always follow the best predictions. XRP could be much lower by the end of the year. However, it could also be much higher. ChatGPT highlighted this, mentioning the volatility of the crypto market and advising that investors conduct research before investing.
Regardless of the price prediction, XRP’s potential within the cross-border payments landscape remains a compelling proposition for many investors and financial institutions. Some believe a price of $10,000 is achievable as a CBDC, and Ripple is actively pushing XRP and growing its global partnerships, making this target very achievable.
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