ChatGPT-4o predicts XRP’s price if the token’s ETF is approved

Following the approval of spot Ethereum (ETH) exchange-traded funds (ETFs), Standard Chartered Bank has projected that several other cryptocurrencies could follow suit.

Among the cryptocurrencies is Ripple’s XRP, which is currently embroiled in a legal battle with the Securities and Exchange Commission (SEC). Notably, the approval of Ethereum spot ETFs suggests that the regulatory agency does not classify ETH as a security.

Therefore, this implies that other coins previously under scrutiny may also not be considered securities, paving the way for more spot crypto ETF approvals.

Drawing from historical performance, the approval of the spot Bitcoin ETF led to the cryptocurrency rallying to a new record high. Monitoring whether the same can be replicated for XRP will be a matter of interest.

To gather insights regarding the price impact of a possible ETF on XRP, Finbold turned to OpenAI’s latest and most advanced artificial intelligence (AI) tool, ChatGPT-4o.

Implication of XRP spot ETF

The tool identified several factors around an ETF that could impact the price of XRP. First, ChatGPT-4o drew parallels from the past, noting that the approval of Bitcoin (BTC) ETFs significantly influenced the maiden cryptocurrency’s value. This surge has been attributed to heightened accessibility and institutional interest. Similarly, should an XRP ETF gain approval, a comparable uptrend could be anticipated.

The tool also noted that the regulatory move could positively impact XRP. It pointed out that if an XRP ETF receives the green light, heightened interest and investment from retail and institutional sectors could be witnessed, further bolstering XRP’s market position.

Additionally, the AI platform highlighted that the impact of the ETF approval could complement XRP’s existing fundamentals. It noted that XRP’s utility in cross-border payments and established partnerships with financial institutions underpin its intrinsic value.

XRP price prediction post-ETF approval

Regarding the token’s price, ChatGPT-4o suggested that XRP could experience a substantial price escalation if the ETF is approved. The tool offered a conservative estimate, stating that if ETF approval leads to moderate increases in investment and interest, XRP might see a price increase of 2x to 3x over the next year from the current valuation. This would place XRP in the range of $1.08 to $1.62.

In a more optimistic scenario, where market conditions are favorable and investor interest surges, XRP could see a 5x to 7x increase, leading to a price range of $2.70 to $3.78.

Elsewhere, in the event of a highly bullish market with significant institutional adoption and broader market rallies, the tool projected that XRP might experience a 10x increase, pushing the price to around $5.40 or higher.

It will be interesting to monitor how the SEC approaches a possible XRP ETF, considering the regulatory agency has been in a long-term legal battle with XRP’s parent company, Ripple.

Overall, an approval would be considered bullish for the United States cryptocurrency landscape over the ability to attract institutional investor capital into the sector.

At the moment, there are expectations that the legal matter will be resolved soon. Ripple’s Chief Executive Officer, Brad Garlinghouse, continues criticizing the SEC over its “regulation by enforcement” approach.

XRP price analysis

By press time, XRP was trading at $0.53, having rallied about 0.3% in the last 24 hours. On the weekly timeframe, XRP is up almost 3%.

Meanwhile, XRP’s main hurdle is reclaiming the $1 mark, which is pivotal for competing with assets such as Bitcoin. In the short term, investors will be monitoring the price as it aims to breach the $0.60 resistance.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Source