In the cryptocurrency market, things are becoming increasingly interesting and profitable for long-term investors. Bitcoin (BTC) recently surpassed $43,000. This increase in the price of the largest cryptocurrency has boosted many people’s belief that BTC could surprisingly reach $500,000, and it is expected that altcoins like Ripple’s XRP will eventually benefit from this surge. Here’s what Google’s artificial intelligence, Google Bard, has to say about this dynamic duo.
Google Bard Lists Potential Targets for XRP
Google Bard has listed potential scenarios for XRP’s price if Bitcoin reaches its $500,000 milestone. According to the AI, if Bitcoin’s positive momentum spreads throughout the market, XRP’s price could potentially range between $1.50 and $3.00. However, due to obstacles such as the lawsuit filed by Ripple against the U.S. Securities and Exchange Commission (SEC) and the strong competition from alternatives like Stellar (XLM), expecting excellent performance from XRP at the moment is difficult.
Despite the court confirming that XRP is not a security, legal issues and market dynamics may prevent a direct correlation with Bitcoin’s rise. Currently priced around $0.6200, XRP would need a significant increase of 383% to reach $3.00.
According to Google Bard, the correlation between Bitcoin and XRP could potentially push XRP to a range of $5.00 to $10.00. For XRP to reach $10.00, there would need to be a significant increase of 1,512%.
Google Bard emphasizes the importance of Ripple’s significant victories in its legal battle against the SEC, foreseeing the removal of obstacles and the unlocking of hidden demand for the altcoin. The AI also sees Ripple’s products, especially Ripple Payments (formerly known as ODL), being widely adopted by financial institutions as a key driving force for XRP’s organic growth. Furthermore, Google Bard expects a better outlook for XRP with positive developments in regulations and more strategic collaborations by Ripple.
Potential Surprises for XRP
Google’s artificial intelligence believes that in the best-case scenario, an unexpected event could push XRP’s price well beyond $10.00. According to Google Bard, this could be achieved through groundbreaking collaboration with a major financial player using XRP for global money transfers or a technological upgrade.
However, Google Bard also acknowledges the difficulty of predicting such events. As the AI points out, these views are speculative, and in the event of Bitcoin reaching $500,000, the actual price of XRP could surpass or fall short of significant expectations.