Over the years, artificial intelligence (AI) tools seem to gain prominence with applications in various sectors of human endeavors, which includes the crypto realm. In today’s development, an artificial intelligence model has predicted XRP’s end-of-the-year price.
Google’s Bard is the latest AI tool that has delved into the intricacies of blockchain analysis to come up with a likely market worth of digital tokens for a certain period.
Bard, one of Google’s latest AI inventions, is a chatty AI experiment established on language models for dialogue applications. Bard could make futuristic price predictions for different cryptocurrencies by analysis of several market indexes.
In the case of XRP price prediction, Google’s Bard noted the lingering legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple in its price analysis.
The AI tool remarked, “The SEC lawsuit against Ripple Labs is a major overhang on the XRP price. If the lawsuit is resolved in Ripple’s favor, it could lead to a significant increase in demand for XRP.”
After considering some significant factors, Google’s Bard concluded that XRP tokens might hit a $0.58 price mark. The artificial model also pinpointed three key factors that could contribute positively to the XRP price rise. These factors include a final court ruling in favor of Ripple, optimistic news coverage, and increased global adoption of XRP as a payment option.
In addition, Bard recognized price predictions from renowned crypto price prediction authorities. XRP’s price forecast by CoinPriceForecast was $0.58 and slightly lower at $0.55 by Wallet Investor. Conversely, Digital Coin Price set a target of $0.60, while Price Prediction suggested a higher value of $0.70.
Per CoinMarketCap, XRP ranks 6th and sells presently at a rate of $0.5116, reflecting a 2.27% high in the past 24 hours. With a market dominance of 2.34%, XRP currently stands at a $26,554,430,626 market cap and a fully diluted market cap worth $51,161,613,088.
The latest happenings in the XRP ecosystem are indicating an imminent rally for XRP. It is worth noting that the XRP network recently experienced its second and third-largest address activity spikes in history during the past few days.
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