OpenAI-backed AI chatbot ChatGPT has predicted a $2.5 price mark for XRP if the growing XRP ETF application is approved
Ripple-associated XRP is currently trading at $0.54, but OpenAI’s ChatGPT predicts that it will hit $2.50. This potential massive price action is tied to the condition that the US SEC will approve spot XRP ETF application.
Another Condition For XRP Potential Price Rally
Following the approval of spot Bitcoin and Ethereum ETFs in the US, the crypto community has been watching for the next crypto ETF offering. Amidst this speculation, investment asset management firm Bitwise applied to the US SEC on October 2 to list the XRP ETF.
This filing made it the first asset manager to file for an XRP ETF globally. A week later, Canary Capital filed to list and trade XRP ETF in the US. It is worth noting that the SEC has yet to acknowledge any of the applications publicly.
Moreover, there is a growing concern about the recent SEC Appeal in its case against Ripple.
From the standpoint of optimism, ChatGPT received a prompt to find out how high the valuation could jump if the SEC greenlights the XRP ETFs.
According to the AI chatbot, XRP will hit $1.5 in the first few months following the approval. At the same time, it made it clear that this meteoric rise will depend on other catalysts, including increased institutional investment and broader market adoption.
ChatGPT predicted that the combination of XRP ETF approval and a favorable resolution of the Ripple vs SEC lawsuit would push XRP to $2.5 in the mid-term.
Ripple Labs Files Cross-appeal in Case Against SEC
Two days ago, Ripple’s Chief Legal Officer Stuart Alderoty confirmed that the blockchain payment firm has submitted its cross-appeal in its lawsuit with the US regulator.
The legal expert claimed that the firm made this move to ensure that “nothing’s left on the table.” This includes arguing that an investment contract cannot exist without essential rights and obligations.
Similarly, Brad Garlinghouse, the firm’s CEO, stated that the cross-appeal is to end the SEC’s regulation-by-enforcement agenda. He is optimistic that the payments firm will win against the Commission again.
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