In the cryptocurrency world, the fate of XRP remains uncertain, thanks to the ongoing legal battle between Ripple and the US Securities and Exchange Commission (SEC). The outcome of this case concerns not only the parties involved, but also the entire crypto community, as it could significantly affect the price and future prospects of XRP.
The case between Ripple and the SEC continues
At the beginning of this legal saga, Ripple scored a notable victory when the court declared that XRP was not a security. This was a pivotal moment in the ongoing debate. However, the final resolution of the case remains unclear. This leaves the cryptocurrency market in a state of expectation. Market participants are aware that the outcome of the case could have a profound impact on the price of XRP.
In this context, analyst Justinas Baltrusaitis reached out to Google Bard, an interactive artificial intelligence (AI) tool, to get an idea of how XRP might perform if Ripple and its executives prevail in their legal battle against the SEC. Google Bard’s prediction offers a glimpse into a potentially brighter future for XRP.
Google Bard offers its predictions for XRP
In response to the analyst’s question, Google Bard showed an optimistic outlook. The AI tool predicted that a positive outcome for Ripple in its lawsuit against the SEC could lead to a significant increase in the price of XRP. According to Bard’s analysis, in the short term, the price of XRP could reach a range between $2.50 and $3.00. Bard’s response included the following statements:
Based on the factors I mentioned in my previous answer, I believe the XRP price could range between $2.50 and $3.00 in the short term if Ripple wins its lawsuit against the SEC. This would represent a significant increase from its current price of $0.50.
However, Bard emphasized the inherent volatility of the cryptocurrency market. So, he also issued a cautionary note. It is important to understand that the real price of XRP may fall within a range higher or lower than the quoted price. This warning is a reminder of the unpredictable nature of cryptocurrencies.
What’s next?
Although these predictions paint a promising picture for XRP, it is crucial to remember that the legal battle between Ripple and the SEC is not over yet. The case is planned to be heard in 2024. Ripple’s president, Monica Long, expressed the company’s determination to see the case through to completion. Ripple recently scored a victory when the presiding judge rejected the regulator’s appeal.
This development sparked speculation within the crypto community. According to John Deaton, attorney for XRP holders, it is critical that the SEC chooses to pursue this case. Because the lawyer expressed his doubts about the institution’s expectations. Deaton highlighted the complexities the regulator would face in a hearing. He also suggested that the SEC might consider settling the case. Such a decision pointed the SEC’s focus to major players in the crypto industry such as Coinbase and Binance. Because there is a possibility that it will divert the focus to other high-profile cases.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.