XRP has been the subject of much speculation recently amid the bullish market trend led by Bitcoin, the flagship crypto. Bitcoin is trading at $43,825, with a 15.56% increase over the past week. This surge has prompted bullish predictions in the market ranging from $50,000 to $530,000, as reported by Bloomberg.
In light of this, we’ve consulted Google Bard to see how XRP will fare in the upcoming bull run. Bard is Google’s AI Large Language Model (LLM), and it provided two estimates for XRP’s future price and the factors that could influence the cryptocurrency’s price.
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Low-End Estimate
For the low-end estimate, Bard stated, “If Bitcoin’s ascent isn’t enough to overcome other dampening factors, XRP might hover between $0.25 and $1.00. This scenario assumes a similar price ratio to the 2017 bull run, where XRP’s gains lagged behind Bitcoin’s.”
Although the maximum price will bring some profit to XRP holders, the minimum of $0.25 doesn’t bode well for the XRP community. XRP is trading at $0.6227, and a drop to $0.25 will be devastating for the community.
High-End Estimate
Bard also provided a high-end estimate, writing, “Conversely, a confluence of factors like widespread adoption, legal triumphs, and a euphoric market alongside Bitcoin’s surge could propel XRP to $5.00, $25.00, or even higher. This scenario factors in potential hype and speculation on top of XRP’s fundamentals.”
This prediction aligns more with the expectations of the XRP community and crypto analysts. A prominent analyst has been predicting a surge to $27 for XRP. If Bard’s prediction of $25 or higher comes true, it could confirm the analyst’s expectations.
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Factors Affecting XRP
Google Bard also lists a few factors that can influence XRP’s price. These are:
Market Sentiment: A general bullish trend in the crypto market could fuel investor interest in XRP, potentially pushing its price upwards. Conversely, a bearish undercurrent could dampen its spirits.
Read Also: Crypto Bull Predicts 76,949% XRP Price Explosion To $470 and Surpass $25T Market Cap
Legal Landscape: The ongoing SEC lawsuit against Ripple looms large. A favorable resolution for Ripple could be a significant price catalyst, while an unfavorable one might throw a wrench in the works.
Adoption and Utility: If more financial institutions and businesses embrace XRP for cross-border transactions and other use cases, its value and demand could rise.
However, even if Bitcoin reaches the ambitious $500,000 target, XRP’s path is unlikely to be a simple mirror image.
Historically, XRP has exhibited a mind of its own, not always mirroring Bitcoin’s ups and downs. XRP’s correlation to Bitcoin also dropped recently. This implies that XRP’s price could land anywhere within a wide range, even if Bitcoin hits its predicted peak.
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