Ripple (XRP) ATH possible after Ripple v SEC latest development? (ChatGPT Analysis)

TL;DR

Ripple was fined $125 million, far less than the $2 billion the SEC was initially seeking, leading to a 20% increase in the price of XRP. The token’s future rally depends on factors such as market conditions and legal developments, with possible additional gains influenced by Bitcoin’s performance. Is XRP Setting the Stage for a New Peak?

The lawsuit between Ripple and the US Securities and Exchange Commission (SEC) witnessed a major development earlier this week when Judge Analisa Torres ruled that the company must pay a fine of $125 million for violating certain values ​​laws.

The sum is just a fraction of the whopping $2 billion initially demanded by the regulator, leading many industry participants to view the decision as a breakthrough win for Ripple.

The price of its native token, XRP, reacted more than positively, rising 20% ​​immediately after the news. At one point, it was close to $0.64, while it is currently trading around $0.58 (according to CoinGecko data).

We decided to ask ChatGPT if the post-liquidation push could lead to an all-time high (ATH) for XRP before the end of 2024.

The popular AI-powered chatbot noted that the court ruling gave a significant boost to the token’s price and market sentiment, but estimated that a bull run would depend on the official outcome of the case.

As reported by CryptoPotato, the legal battle could drag on a bit longer due to possible appeals from both sides. Ripple’s petition is highly unlikely given the statement from the CEO, who described the ruling as “a victory” and said his entity would abide by the rules.

Watchdog seems more likely to appeal. However, several X users assumed that such a move would be unwise given the upcoming US presidential election.

“If the SEC decides to appeal the Ripple case, they should appeal right before the US presidential election, which would be the worst possible time for the SEC and Gensler,” one person suggested.

Additional factors

ChatGPT further stated that XRP’s potential rise to a new ATH would depend on several other elements, including increased adoption, favorable market conditions, global regulations, economic stability and more. It was estimated that a bull run could also be partially fueled by the influence of Bitcoin (BTC):

“Bitcoin often leads market trends. If Bitcoin experiences significant growth, it could boost other cryptocurrencies, including XRP.”

The major cryptocurrency experienced a serious crash on August 5, falling below $50,000 for the first time in six months. In the following days, it posted an impressive rally, briefly rising to $62,500. For its part, the global capitalization of the cryptocurrency market again exceeded 2.2 trillion dollars.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!