XRP’s price is trading sideways at around $0.56. This coin has an amazingly strong community and many crypto traders and analysts wonder what XRP price will be when Bitcoin hits $100k which is expected later in 2024 or in 2025.
I decided to ask Gemini’s AI (former Bard AI) to predict the XRP price. But first, let’s look at the current state of affairs for Ripple and the broader crypto market.
Recent Developments in the Ripple vs SEC Case
The ongoing legal battle between Ripple and the SEC has seen some significant developments. On August 7, 2024, a federal court ordered Ripple to pay a $125 million penalty for selling unregistered securities to institutional investors. This penalty is considerably lower than the $2 billion initially sought by the SEC, which many view as a win for Ripple.
However, the court also imposed an injunction to prevent Ripple from future violations of securities laws, reflecting concerns about the company’s compliance practices. The ruling found that XRP is a security when sold to institutions but not when sold to retail investors on exchanges.
The SEC is expected to appeal this ruling within the next 60 days, particularly regarding the classification of XRP sales and the injunction. This appeal could have implications for XRP’s future price and adoption.
Read also: Crypto Analysts Explain ‘Real Reasons’ Ripple (XRP) Has Not Risen in Price Against Expectations
Factors Influencing Bitcoin’s Potential Rise to $100k
Several factors contribute to the expectation that Bitcoin might reach $100k in the near future:
Seasonal Trends: October and November are traditionally strong months for cryptocurrencies.
US Elections: The upcoming US elections in November could impact the crypto market. While Trump is considered a pro-crypto candidate, he’s no longer the favorite to win against Kamala Harris.
Current Price: Bitcoin is currently trading at around $60k, showing mixed momentum.
Given this context, I asked Gemini’s AI to provide optimistic, realistic, and pessimistic XRP price predictions for the fall of 2024 and 2025, assuming Bitcoin reaches $100k.
Here’s what the AI predicted:
XRP Price Forecast – Optimistic Scenario
In this best-case scenario, a favorable ruling in the Ripple appeal combined with a strong Bitcoin rally to $100k could trigger significant FOMO in the crypto market. As a potential leader in the payments sector, XRP could experience a parabolic rise:
Fall 2024: $5-$10
2025: Potentially $20 or higher, depending on market conditions and widespread adoption for cross-border payments
Realistic Scenario
The realistic scenario takes into account ongoing uncertainty surrounding the Ripple appeal and a more cautious overall market:
Fall 2024: $1-$2, driven by overall market sentiment and potential partnerships
2025: $3-$5, assuming a positive resolution to the Ripple case and continued Bitcoin growth
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Show more +Show less – Pessimistic Scenario
In the worst-case scenario, an unfavorable ruling in the Ripple appeal could negatively impact the market:
Fall 2024: Sub-$0.50 levels, reflecting negative sentiment
2025: $0.50-$1 range, as XRP struggles to regain lost ground
The ongoing legal battle between Ripple and the SEC remains a crucial factor. A favorable outcome for Ripple could boost investor confidence, while an unfavorable ruling might lead to a price decline. Also, Bitcoin’s performance often influences the entire crypto market. If Bitcoin reaches $100k as predicted, it could have a positive effect on XRP’s price.
Read also: How High Can Ripple (XRP) Price Go? Is a $50 Target Realistic?
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