Although the introduction of ChatGPT by OpenAI signaled the beginning of a renewed fascination with artificial intelligence (AI), the market has already received a worthy competitor – Google Bard, which has already shown capable of providing insights into cryptocurrencies like XRP.
With this in mind, Finbold asked Bard to share some predictions of the possible XRP price in the next bullish period in the crypto industry, and the AI platform created by Alphabet (NASDAQ: GOOGL) delivered a detailed response from the viewpoint on August 17.
Relevant influences
As Bard explained, the future price of XRP is difficult to predict with certainty, but there are several factors that could influence the value of this crypto asset, including the final outcome of the United States Securities and Exchange Commission (SEC) lawsuit against blockchain company Ripple, which the regulator is accusing of illegal sales of XRP.
Specifically, if Ripple wins the lawsuit, “it could remove a major overhang on the XRP price and allow it to reach its full potential.” An example of this influence became apparent when XRP exploded upon the news of Ripple’s major victory as Judge Analisa Torres ruled that XRP sales to retail investors did not constitute securities sales.
As other influential factors for the future price of XRP, Bard singled out the overall performance of the crypto market, the new use cases for XRP, and the continued adoption by financial institutions due to its speed and efficiency in transferring money and the fact that a number of banks and payment processors are already using it.
XRP price prediction
Taking these factors into consideration, the AI tool said that some crypto experts believe that XRP could reach a price of $1.80 by the end of 2024 or even $3.50 by the end of 2025, as well as sharing some more conservative predictions that see it between $0.70 and $1.00 by the end of 2024.
In terms of specific projections, Bard listed crypto monitoring website DigitalCoinPrice, which has set the XRP price at $1.75 by the year’s turn and $3.35 by the end of 2025; forecast platform WalletInvestor, which sees $1.50 by this year’s end and $2.50 by the end of 2025, and education portal TradingBeasts’ $1.30 by the end of 2023 and $2.20 by the end of 2025.
XRP price analysis
As things stand, XRP is currently changing hands at the price of $0.584989, demonstrating a 1.22% drop in the last 24 hours, a decline of 7.65% across the previous seven days, and a 23.16% loss on its monthly chart, according to the most recent information.
In conclusion, XRP could, indeed, perform very well in the next crypto bull market, growing its price by 208% or even 498% from its current state, provided that the above factors are strong enough. That said, doing one’s own research is crucial due to the market’s often volatile and unpredictable nature.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
