We Asked ChatGPT if Ripple (XRP) Can Hit a New ATH Before Christmasđ€đ€
A Very Special Christmas for the XRP Army?
Rippleâs XRP has been making the headlines in the past few weeks, registering an impressive price increase and outperforming its rivals. On November 29, it reached a three-year high of $1.67, while some analysts believe the bull run could take it to a new all-time high before Christmas.
We decided to poke the AI brains of ChatGPT and see if it shares that thesis. The popular chatbot claimed such a scenario is unlikely but not entirely out of the cards. However, surpassing $3.84 (the ATH registered in 2018) will depend on multiple factors.
Perhaps the most important is the shift in the leadership of the US Securities and Exchange Commission (SEC). Not long ago, the current Chairman, Gary Gensler, confirmed he will step down on January 20, 2025. This has led to speculation that the next leader will be pro-crypto and not hamper the industryâs advancement with constant legal battles.Â
To the uninitiated, the Commission filed countless lawsuits against cryptocurrency businesses over the years. Among those is the legal tussle versus Ripple, which has been ongoing for almost four years.
According to ChatGPT, though, XRP might experience a significant pump once Gensler vacate his post. It is unlikely that he will do so before Christmas this year.Â
Another essential element is the overall market sentiment. The AI-powered chatbot assumed that Rippleâs native token could head north if the entire cryptocurrency sector thrived. Despite a recent correction, the marketâs condition remains quite bullish, with Bitcoin (BTC) trading well above $95,000 and Ethereum (ETH) tapping a six-month high of almost $3,700.
Last but not least, ChatGPT reminded about XRPâs historical performance, noting that the asset is capable of charting double and even triple-digit gains in a short period of time.Â
