The rise of Bitcoin (BTC) above $43,000 has increased investors’ interest and long-term profit expectations in the cryptocurrency market. This surge in the value of the largest cryptocurrency strengthens expectations that BTC could reach $500,000, which is also expected to benefit altcoins like Ripple‘s XRP.
Google Bard has identified possible scenarios for the price of XRP if Bitcoin reaches its $500,000 target. Artificial intelligence predicts that with the positive momentum of Bitcoin spreading in the market, the price of XRP could 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 intense competition from alternatives like Stellar (XLM), it is difficult to expect exceptional performance from XRP at the moment.
The confirmation that XRP is not a security by the court and market dynamics may prevent direct correlation between the rise of Bitcoin and XRP. With the current price of XRP at around $0.6200, a significant increase of 383% is needed for it to reach $3.00.
Google Bard states that the potential relationship between Bitcoin and XRP could push the price of XRP to between $5.00 and $10.00. For XRP to reach $10.00, a significant increase of 1,512% is required.
Google Bard emphasizes that the significant victories Ripple has achieved in its legal battle with the SEC will pave the way for the removal of obstacles and the emergence of hidden demand for altcoins. Additionally, artificial intelligence sees Ripple’s products, especially Ripple Payments (formerly known as ODL), as the main driving force for the organic growth of XRP, particularly adopted by financial institutions. Positive developments in regulations and Ripple’s strategic partnerships are also expected to improve the outlook for XRP.