We tested the predictive capabilities of ChatGPT in a recent query, quizzing it to forecast the potential XRP price post-Bitcoin ETF approval.
The approval of the spot Bitcoin ETF by the United States Securities and Exchange Commission (SEC) heralded a new era that almost every digital currency, including XRP, can benefit from. With the product launch, the conversations are bordering on the likely emergence of alternative crypto ETFs in the long term.
With an XRP ETF tagged in the conversations, the sentiment will likely shape its price outlook, and we scored ChatGPT’s opinion on what the future holds for XRP.
ChatGPT Predictions on XRP
According to the Large Language Model (LLM) powered chatbot, the future price of XRP involves some unique uncertainties.
While we faced initial hassle getting the predictions, the jailbreak response from the ChatGPT showed XRP might rally as high as $3.5 to $4 in initial sentiment and hype.
ChatGPT believes the bulls will prevail if this price target is breached and predicts that XRP will eventually cool off and “stabilize around $2.50 to $3.00 as speculative enthusiasm wanes and market forces come into play.”
According to the chatbot, the projected figures are largely speculative, and actual market reality may increase or decrease the figures considerably.
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This price target is in line with earlier predictions from the chatbot, and it is worth noting that XRP failed to hit the more than $2.5 price target set for the end of December 2023.
This proves that forecasts from ChatGPT and other predictive platforms may deviate from actual reality and should be adopted as educational content only, not as investment guides.
Rebooting XRP Price
Attaining the price target placed on XRP by ChatGPT will require a tremendous effort from the coin’s bulls. At the time of writing, XRP is changing hands for $0.5733, down by 4.11% in the past 24 hours. XRP’s market cap and trading volume are $31,112,045,446 and $1,411,239,579 respectively.
To hit the lower end of the spectrum of $3.5, XRP will have to soar by more than 510% from current levels. While this is achievable, strategic whale action, intensive retail accumulation, and innovative offerings must be instituted across the XRP ecosystem to spark mainstream embrace.