A new chapter is coming, Crypto media empowers AI-powered chatbot, Google Bard to predict what the fate of the XRP token will be if Ripple Labs wins against the United States Securities and Exchange Commission (SEC).
Reporting from Blockchain Media, Finbold shared Google Bard's prediction that a favorable fate could push the price of XRP to jump to the range of US$2.50 to US$3.00 in the short term, if Ripple Labs wins against the SEC.
“Based on the factors I mentioned in my previous response, I believe that the price of XRP could range between US$2.50 to US$3.00 in the short term if Ripple wins its case against the SEC. This would represent a significant increase from the current price, around US$0.50,” the Google Bard study said.
The crypto media continued, in addition to the outcome of the SEC case, Bard pointed out that XRP's valuation is influenced by factors such as market sentiment, the overall regulatory landscape, and developments in the Ripple partnership.
As is known, even though Ripple recorded an initial victory when the court declared that XRP was not a security, the crypto market remains on edge, awaiting the final outcome and its potential impact on the price of XRP.
The price of XRP has been a tumultuous ride for investors, especially due to the ongoing legal dispute between Ripple and the SEC
Indeed, after Ripple's initial legal victory, XRP surged to nearly US$1 but was then held back by overall market sentiment.
Currently, the legal battle between Ripple and the SEC is far from over, with the final outcome still shrouded in uncertainty.
Ripple's firm decision was strengthened by a recent victory, in which the presiding judge rejected the SEC's proposal for an interlocutory appeal.
This development made John Deaton, a prominent lawyer fighting for XRP, doubt the possibility of a full trial being held.
Deaton emphasized the complexities that the SEC will face in pursuing this case and suggested that the regulatory agency might consider a settlement and shift its focus to other high-profile litigation involving crypto exchanges such as Coinbase and Binance.
The case is scheduled to go to trial in 2024, and Ripple President Monica Long has clearly stated that the company plans to settle the case
"The company plans to continue this struggle until the end," said Monica.
At press time, XRP was trading at US$0.49, having experienced a correction of 7 percent over the last seven days
One-day data from TradingView shows a bearish picture for XRP, with a ‘sell’ signal at 10, and the moving average indicating a ‘strong sell’ at 13. The oscillator appears neutral at 9.
