We asked ChatGPT if Ripple (XRP) can hit a new ATH before Christmas

TL;DR

XRP hit a three-year high, but hitting a new ATH of over $3.84 by Christmas depends on numerous factors. Ripple’s stablecoin, RLUSD, could positively affect the price of XRP if it launches soon, but its approval by the NYDFS remains uncertain. A very special Christmas for the XRP army?

Ripple’s XRP has been in the headlines for the past few weeks, recording an impressive price increase and outperforming its rivals. It hit a three-year high of $1.67 on Nov. 29, while some analysts believe the bull run could take it to a new all-time high before Christmas.

XRP Price, Source: CoinGecko

We decided to take the brains out of ChatGPT’s AI and see if it shares this thesis. The popular chatbot claimed that this scenario is unlikely, but not completely out of the cards. However, breaking above $3.84 (the ATH recorded in 2018) will depend on multiple factors.

Perhaps most important is the change in leadership at the US Securities and Exchange Commission (SEC). Not long ago, the current chairman, Gary Gensler, confirmed that he will step down on January 20, 2025. This has led to speculation that the next leader will be pro-crypto and will not hinder the industry’s progress with constant legal battles .

For the uninitiated, the Commission has brought countless lawsuits against cryptocurrency companies over the years. Among these is the legal fight against Ripple, which has been ongoing for almost four years.

According to ChatGPT, however, XRP could experience a major bombshell once Gensler leaves his post. It is unlikely to do so before Christmas this year.

Another essential element is the overall market sentiment. The AI-powered chatbot surmised that Ripple’s native token could head north if the entire cryptocurrency sector thrives. Despite a recent correction, the market situation remains quite bullish, with Bitcoin (BTC) trading well above $95,000 and Ethereum (ETH) hitting a six-month high of nearly $3,700.

Last but not least, ChatGPT recalled XRP’s historical performance, noting that the asset is capable of charting double- and even triple-digit gains in a short period of time.

The potential role of RLUSD

Another factor that may increase the valuation of XRP in the near future is the eventual launch of Ripple’s stablecoin: RLUSD. Earlier this week, user X Vet said that almost all chips had been burned, sparking rumors that the product is ready to see the light of day.

However, the community will have to wait for NYDFS approval. Monica Long (President of Ripple) recently stated:

“It depends on them. They are reviewing our trust application. It will be in their hands when they approve it.”

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