ETFs
ChatGPT-4o predicts XRP price if token ETF approved
Following the approval of the Ethereum spot (ETH) exchange traded funds (AND F), Standard Chartered Bank has projected than several others cryptocurrencies could follow suit.
From cryptocurrencies East Ripple XRP, which is currently embroiled in a legal battle with the Securities and Exchange Commission (SECOND). Notably, the approval of Ethereum spot ETFs suggests that the regulatory the agency does not classify ETH as a security.
Therefore, this implies that other previously reviewed coins might also not be considered securities, paving the way for more one-off approvals of crypto ETFs.
Building on historical performance, spot approval Bitcoin ETFs led the cryptocurrency to hit a new all-time high. It will be interesting to see if this can be replicated for XRP.
To gather information on the price impact of a possible ETFs on XRP, Finbold turned to OpenAI latest and most advanced artificial intelligence (AI) tool, ChatGPT-4o.
Involvement of the XRP spot ETF
The tool identified several factors around an ETF that could impact the price of XRP. First, ChatGPT-4o drew parallels to the past, noting that the approval of Bitcoin (BTC) ETFs have significantly influenced the value of the first cryptocurrency. This increase has been attributed to increased accessibility and increased institutional interest. Likewise, if an XRP ETF were approved, a comparable uptrend could be expected.
The tool also noted that the regulatory decision could have a positive impact on XRP. He pointed out that if an XRP ETF receives the green light, increased interest and investment retail and institutional sectors could be observed, further strengthening XRP’s position in the market.
Additionally, the AI platform highlighted that the impact of the ETF approval could complement XRP’s existing fundamentals. He noted that the usefulness of XRP in cross-border payments and established partnerships with financial institutions support its intrinsic value.
XRP Price Prediction After ETF Approval
Regarding the price of the token, ChatGPT-4o suggested that XRP could see a substantial price rise if the ETF is approved. The tool offers a conservative estimate, indicating that if ETF approval results in a moderate increase in investment and interest, XRP could see its price rise 2-3 times over the next year compared to the current valuation. This would place XRP between $1.08 and $1.62.
In a more optimistic scenario, where market conditions are favorable and investor interest increases, XRP could see a 5-7x increase, leading to a price range of $2.70 to $3.78.
Elsewhere, in case of strong bullish market with significant institutional adoption and broader market rallies, the tool predicted that XRP could see a 10x increase, pushing the price to around $5.40 or higher.
XRP price prediction. Source: ChatGPT-4o
It will be interesting to watch how the SEC approaches a possible XRP ETF, given that the regulatory agency is engaged in a long-term legal battle with XRP’s parent company, Ripple.
Overall, an approval would be considered optimistic for the US cryptocurrency landscape due to its ability to attract capital from institutional investors into the sector.
At the moment, it is expected that the legal matter will be resolved soon. Ripple CEO Brad Garlinghouse continues to criticize the SEC for its “regulation by enforcement” approach.
XRP Price Analysis
At press time, XRP was trading at $0.53, having increased by approximately 0.3% over the past 24 hours. On the weekly time frame, XRP is up almost 3%.
Meanwhile, XRP’s main hurdle is reclaiming the $1 mark, which is key to competing with assets such as Bitcoin. In the short term, investors will be watching the price as it aims to break above the $0.60 mark. resistance.
Disclaimer: The content of this site should not be considered investment advice. The investment is speculative. When you invest, your capital is at risk.