We asked ChatGPT if Ripple (XRP) could hit an ATH if Gary Gensler resigns as SEC chairman

TL;DR

If SEC Chairman Gary Gensler steps down, XRP’s valuation could benefit from a more crypto-friendly successor and a greater likelihood that the regulator will settle its case with Ripple. Regardless of Gensler’s status, the token’s price could reach a new all-time high through strategic partnerships, increased adoption and technological advancements, the AI ​​chatbot said. What are the possibilities?

The US Securities and Exchange Commission (SEC), which oversees and regulates stock markets, has been at war with numerous cryptocurrency companies, including Ripple.

The agency is led by chairman Gary Gensler, who has expressed strong reservations about the crypto industry over the years. For example, he described Bitcoin (BTC) as “a speculative and volatile asset that is also used for illicit activities, including ransomware, money laundering, sanctions evasion and terrorist financing.”

Earlier this week, a “10x Research” report hinted that Gensler could step down from his position in early 2025 after the end of President Joe Biden’s term. This is based on the typical practice of SEC chairmen resigning when a new administration takes office.

We asked ChatGPT how Gensler’s potential exit would affect the cryptocurrency industry and whether it would fuel XRP’s price explosion to an all-time high.

The AI-powered chatbot began the response with a disclaimer that this prediction is highly uncertain and should not be taken for granted. He suggested that Gensler’s potential resignation could positively affect the crypto market and XRP’s valuation, assuming he is replaced by someone with a friendlier approach.

According to ChatGPT, the departure of the current chairman could make the SEC more inclined to settle the case with Ripple. Several industry participants have previously argued that the end of the lawsuit (especially if the company wins a decisive victory) could lead to a massive increase in the price of XRP.

Recall that the value of the token soared more than 70% just hours after Ripple’s first partial court victory in the summer of 2023. Judge Torres then ruled that the company’s programmatic sales on platforms of secondary trading do not constitute offers of investment contracts.

On the other hand, ChatGPT stated that the eventual rise of XRP towards a new ATH would require additional factors, such as favorable market sentiment and the general rise of the cryptocurrency sector.

The token reached its peak price of over $3.80 in early 2018, meaning it has a long way to go before making headlines with a new peak. XRP is currently worth around $0.60.

What if Gensler stays?

We decided to dig into the matter a bit more, asking ChatGPT if the price of XRP can take advantage of a new ATH if Gensler remains in charge of the Commission.

The chatbot estimated that Ripple could still win demand in this scenario. In addition, various elements such as strategic partnerships, increased adoption and technological developments could help XRP plant the flag at a higher point.

Over the past few years, the company has partnered with several leading financial institutions, including one of Egypt’s largest banks: Commercial International Bank (CIB), Thailand’s oldest bank, Siam Commercial Bank (SCB) and the Attijariwafa Bank of Morocco.

It will be interesting to see if it can create additional partnerships in the near future and how these developments could affect the price of XRP.

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