The crypto market has experienced significant volatility recently, driven in part by Ripple’s legal victory over the SEC. One crypto token that has garnered attention is XRP, and Google’s new conversational AI model, Bard, has weighed in on its potential trajectory for the latter half of 2023.
XRP’s price has fluctuated due to developments surrounding Ripple’s lawsuit. The conclusion of the legal battle resulted in a partial victory for Ripple, leading to a nearly 100% price increase for XRP. However, this upward momentum was short-lived as the token pulled back by 28% from its peak on July 13.
The pullback can be attributed to various factors, including rumors of a potential appeal by the SEC against the judge’s ruling. The SEC believes that the ruling contradicts established securities laws and principles like the Howey test. SEC Chairman Gary Gensler expressed disappointment that XRP was not considered a security in the context of retail sales. Speculation persists that the SEC might appeal to reverse the precedents set by the Ripple case, as they could limit the agency’s future ability to regulate the crypto market.
Google Bard offered a pessimistic outlook for XRP, citing ongoing legal challenges and their impact on price growth. Bard predicted that the maximum price XRP could achieve by the end of 2023 is $0.56, 15% lower than the current price. The prediction takes into account factors such as XRP’s adoption rate, overall crypto market performance, and the fallout from Ripple’s battle with the SEC.
Although Bard’s forecast for XRP is not optimistic, the AI model sees a brighter future for other cryptocurrencies. One particular token that has caught Bard’s attention is XRP20, an ERC-20 token that aims to provide a “second chance” for those who missed out on the original XRP’s bull run.
XRP20’s presale phase has begun, offering early adopters the opportunity to purchase tokens at a significantly lower price than XRP’s all-time low. The token not only serves for speculation but also offers a staking protocol for passive income. Additionally, a token burn mechanism has been implemented to reduce the circulating supply over time and potentially increase the token’s value.
Google Bard predicts that XRP20’s price could reach $0.0010 by the end of the year, representing a 1,000% increase from the presale price. Factors contributing to this growth include the success of XRP20’s staking program and its adoption by developers and businesses.
While it’s important to note that Bard’s predictions are speculative, they offer hope to early XRP20 investors who may see a significant return on their investment.
