The crypto community attributes the failure of the XRP coin to reach its all-time high during the last bull season to the lawsuit filed and concluded against Ripple.
SEC Case and Its Effects
On December 20, 2020, the US SEC filed a lawsuit against Ripple and its executives Christian Larsen and Brad Garlinghouse for allegedly organizing a $1.3 billion unregistered securities offering through XRP. As a result of this case, US-based exchanges withdrew their support from XRP, which caused temporary price declines.
Bull Season and XRP
As the crypto market entered a new bull season in the middle of Bitcoin's third halving cycle, the lawsuit shortened the bull run by limiting XRP's public access. For example, XRP peaked at $1,965 on April 14, 2021, while Bitcoin continued its upward trend for another six months until November 2021.
Current Situation and Community Opinions
The price of XRP has been declining since then, trading around $0.47 today. The community believes that XRP would have been in a better position had it not been for the SEC case. This idea is inspired by the 75,000% increase that XRP experienced in the 2017/2018 season and its ranking as the second most valuable cryptocurrency after Bitcoin, surpassing Ethereum in a short time.
Potential Price of XRP
What would the potential price of XRP be if there was no SEC case? Looking for an answer to this question, ChatGPT admitted that predicting the price of XRP without an SEC case is speculative. However, he made some predictions by taking into account key factors such as market sentiment, Ripple's partnerships, and past performance.
Medium and High Growth Scenarios
In a moderate growth scenario assuming positive developments continue and adoption increases without litigation, ChatGPT predicted a price increase of 50-100%. He used XRP's pre-litigation price of around $0.60 in December 2020 as a reference point. Accordingly, the projected growth percentage indicates that XRP could currently be worth between $0.90 and $1.20.
ChatGPT predicted a 150-200% price increase in XRP's high growth scenario. This suggests a hypothetical price range between $1.50 and $1.80.
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