Investing.com | Editor Ambhini Aishwarya
Published Oct 11, 2023 08:14AM ET
Google (NASDAQ:GOOGL)’s AI chatbot, Bard, has predicted that Ripple’s XRP could surpass its all-time high (ATH) of $3.3 in the coming year. This forecast comes despite the cryptocurrency’s significant 84% decrease from its January 2018 peak. The prediction was made on Wednesday and is largely based on developments surrounding the ongoing Ripple-SEC lawsuit.
In the recent turn of events last week, Judge Analisa Torres denied the SEC’s interlocutory appeal to the ruling made on July 13. She scheduled the trial for April 24, 2024. Judge Torres’ declaration that XRP is not a security could potentially lift a significant regulatory cloud over the asset.
The optimistic outlook for XRP also takes into account a surge in demand due to increased adoption by businesses and financial institutions. Alongside this, a bullish crypto market and the Bitcoin halving event slated for April 2024 could trigger a bull run that benefits XRP.
Despite these favorable conditions and advantages of XRP such as low fees, Bard also cautioned about potential challenges. A negative lawsuit outcome affecting Ripple’s XRP sales and slow institutional adoption were cited as potential risks.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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Written By: Investing.com
