Large language models (LLMs) like ChatGPT have become increasingly prominent in the financial sphere as investors look to their unrivaled processing power to forecast asset prices. While the cryptocurrency market’s volatility makes such predictions challenging, we consulted ChatGPT for some specific targets for XRP.
XRP has traded below $1 since it fell from its multi-year high of $1.96 in 2021. However, many believe the Bitcoin Halving will bring massive surges in the 2024 bull run, and we asked ChatGPT when XRP will finally surpass $1.
Looking ahead, we gave ChatGPT a more ambitious target of $50 to get an idea of how long it will take XRP to reach this price.
Read Also: ChatGPT’s Projected Timeline For XRP To Hit $3
ChatGPT predicted that XRP could surpass $1 by the end of 2024. This prediction suggests a significant rise in XRP’s value in the coming months. For the digital asset to reach $1 by the end of 2024, it would require a price increase of approximately 93.87% from its current price. A prominent analyst recently predicted a surge to $1.68, which could fulfill ChatGPT’s prediction.
In contrast to the relatively short-term prediction for XRP to reach $1, ChatGPT projects a much longer timeline for the currency to reach $50.
According to the chatbot, XRP is unlikely to hit $50 until 2045, 21 years from now. ChatGPT believes widespread adoption will play a crucial role and expects this significant increase to take considerable time.
Several factors could contribute to a rise in XRP’s value in the long term. ChatGPT mentioned adoption by financial institutions for cross-border payments as a major driver.
Ripple, the company behind XRP, focuses on facilitating faster and more cost-effective international transactions for banks and other financial institutions. If Ripple’s technology is widely adopted, it could lead to increased demand for XRP, which could push up its price.
Read Also: We Asked ChatGPT How Long It Would Take USTC To Reach $1
Regulatory clarity surrounding XRP’s status could also be pivotal in determining its future value. Many see XRP as the altcoin with the most regulatory clarity in the U.S., and the end of the XRP lawsuit could open big doors for XRP.
Currently, XRP is trading at $0.5158, down 2.15% in the past 24 hours. While the short-term price movement may not align with ChatGPT’s prediction, its forecast offers an intriguing perspective on the potential long-term trajectory of the digital asset.
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