Amid the bearish market outlook, bullish price projections keep emerging for XRP, with most price forecasts projecting XRP beyond its all-time high (ATH) attained in January 2018.
While XRP price predictions seem to crowd the crypto space, the unanswered question remains a potential timeline for these price projections to play out.
In light of the above, we deemed it fit to inquire Google Bard about the possible timeline for XRP to revisit its price all-time high.
Read Also: We Asked Google Bard How High XRP Price Would Rise After Ripple-SEC Lawsuit, Here’s What it Said
For context, Bard is an Artificial Intelligence (AI) chatbot model developed by Google. Like ChatGPT, it could be used to gain insight into several pressing issues. It has always remained relevant for use in the crypto sphere.
The AI model failed to give any specific timeline for a potential spike in XRP’s value. The chatbot however acknowledged the fact that some crypto analysts and top chartists seemed to opine that the XRP rally would play out between 2024 and 2025, while some gave predictions of several years before the bull run eventually sets in.
On its part, Bard highlighted some key events or developments that could be crucial to XRP price movements.
According to Google’s AI model, factors such as the outcome of the United States Securities and Exchange Commission (SEC) v.s. Ripple legal dispute, the overall state of the global economy, technological advancements in the crypto sphere, shared market sentiments, and price changes that could be elicited due to changes in demand and supply.
Ripple recently scored a big win in the court as the U.S. regulatory body saw its motion for an interlocutory appeal declined. Ripple now poses a better chance of winning the legal contest, which could boost XRP’s price in the long run.
The global economy does not only affect physical and other monetary assets. It also has a way of impacting digital asset prices like XRP. The overall outlook of the world’s economy remains a crucial determinant of XRP’s future price movement.
Improved technological advancement in the crypto space, especially the ones affecting Ripple and XRP, could result in an XRP price increment.
Read Also: State-of-the-Art Machine Learning Algorithm Sets XRP Price For October 31, 2023
Delving deeper, Google Bard spotlighted the potential impacts of market sentiments on XRP price growth. It is a general belief in the crypto space that positive market sentiments would favor digital asset prices while negative ones will result in declines.
Demand and supply were also noted to be crucial. When the supply becomes more than the demand, it implies a lack of interest, resulting in price declines. However, once demands exceed supplies, it indicates that the tokens are in high demand, and their prices would go up. The chatbot attributed this analogy to XRP.
Bard concluded by emphasizing the effects of volatility and fluctuation in crypto trade, urging investors to conduct adequate research before investing in any cryptocurrency.
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