Can XRP Price Reach $1 When Ripple’s Stable Coin Is Activated? (ChatGPT Analytics)

TL;DR

Ripple plans to launch a stablecoin, RLUSD, by the end of the year, which could increase confidence in its technology and possibly lead to an increase in the price of XRP. Another element that could affect the volatility of the token is the Ripple v. SEC, whose official ending looks set to be extended into the future. Estimated by ChatGPT

In April this year, Ripple revealed its plans to introduce a stablecoin pegged 1:1 to the US dollar. In the following months, the team gave more details about the product. It will be called RLUSD and will be available on XRP Ledger (XRPL) and Ethereum.

The stablecoin is expected to go live later this year, and Ripple has recently named Bitstamp, Bitso, Uphold, Bullish, CoinMENA, Independent Reserve and MoonPay as exchange partners for the initiative.

Some market watchers believe that the eventual launch of RLUSD could positively affect the price of XRP for several reasons. We decided to ask ChatGPT if he shares this thesis and if the development could lead to a rise towards a three-year high of $1.

The AI-powered chatbot claimed the development could increase confidence in Ripple’s technology, increasing interest and adoption of its blockchain and payment solutions. This, in turn, could lead to an additional number of investors and a rising XRP price.

The asset is currently trading around $0.55 (according to CoinGecko data), which means it needs to shoot up more than 80% to reach the depicted target. According to ChatGPT, such an exponential increase will depend on numerous factors (not just the launch of RLUSD).

Some of the items mentioned include a favorable resolution of the Ripple lawsuit against the SEC and the overall bullish conditions of the entire cryptocurrency market.

The SEC case continues

The legal battle, which began in December 2020, does not appear to be anywhere near its end.

Earlier this week, the SEC officially appealed portions of Judge Analisa Torres’ 2023 summary judgment ruling that determined that Ripple’s sales of its XRP token to retail investors on crypto exchanges did not violate the laws of US securities. On the other hand, the regulator did not struggle with the status of the asset as unsafe.

Speaking on the matter, US Attorney Jeremy Hogan described the SEC’s latest filing as “chicken move”.

“The SEC completely folded when it had the chance to try the case against Garlinghouse and Larsen in front of a jury. And now it’s trying to bring those claims back to life,” he argued.

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