ChatGPT-4o forecasts the price of XRP following the verdict of the Ripple vs. SEC case
The cryptocurrency community is eagerly awaiting the final ruling in the legal battle between the United States Securities and Exchange Commission (SEC) and blockchain company Ripple. In the meantime, an innovative artificial intelligence platform called ChatGPT has provided its prediction for the price of XRP after the verdict is delivered.
After Judge Analisa Torres ruled last year that selling XRP to retail traders did not constitute securities sales, but selling to institutional sales did, the two sides are now discussing the potential punitive damages that Ripple may have to pay for sales that violated securities laws.
Taking into account market sentiment, historical price behavior in response to legal updates, and expert predictions tied to the potential outcomes of the ruling, ChatGPT-4o has offered its insight into the possible price of XRP.
The AI platform suggests that if Ripple is given a significantly lower penalty than proposed by the SEC, it could lead to a positive market reaction and boost the price of XRP. A favorable ruling could act as a catalyst for a price increase, with ChatGPT-4o predicting a price range of $0.55 to $1.00 for XRP shortly after a favorable ruling or settlement. However, the platform emphasizes that actual market reactions may differ from its predictions.
Currently, XRP is trading at a price of $0.52495, showing a slight increase of 0.68% in the past day. However, it has experienced a decline of 1.68% over the past week, 0.55% on its monthly chart, and 15.19% this year, according to data from Finbold.
Different analysts have offered their own predictions for the future price of XRP. While one analyst suggests a target range of $1.20 to $1.50, another predicts that XRP may drop to $0.40 before potentially moving upward. It is important for investors to conduct their own research, stay informed about any news related to XRP and Ripple, and keep track of updates in the Ripple-SEC lawsuit.
Disclaimer: This article does not provide investment advice. Investing in cryptocurrencies carries risk, and individuals should exercise caution when making investment decisions.