Summary
- Ripple’s XRP fell to around $0.44 after previously topping $0.70, with hopes of a price recovery tied to the outcome of the SEC lawsuit.
- ChatGPT predicts that while a legal victory by Ripple against the SEC could boost XRP, the asset would need an additional boost to outperform eth.
It's possible?
Ripple’s XRP price experienced a major resurgence in mid-March, breaking above the $0.70 mark. However, it has since suffered a massive drop, recently dipping below the $0.40 level for the first time in over a year. The token is currently worth around $0.51 (according to data from CoinGecko).
Some industry participants believe that a potential XRP price revival depends on a positive outcome of the lawsuit between Ripple and the US Securities and Exchange Commission (SEC). Us decided to take That assumption a bit ChatGPT was further asked whether the asset could outperform ethereum (eth) in the event of a decisive victory for the company.
The ai-powered chatbot predicted that such a scenario could significantly increase the value of XRP. However, eth's appreciation seems rather unlikely and would require additional factors.
ChatGPT noted that ethereum's current market cap is over $370 billion, nearly 15 times larger than that of XRP. It also stated that the second-largest cryptocurrency has cemented its industry-leading position in recent years due to its extensive ecosystem, including decentralized applications (dApps) and smart contracts, “which drive its utility and value.”
“XRP would need substantial adoption and utility beyond its current use cases to overtake eth in market cap. This would likely require widespread institutional adoption and favorable regulatory environments globally,” the chatbot concluded.
Ripple vs SEC: The Latest Developments
The case has been ongoing since December 2020, when the regulator sued the company for allegedly conducting unregistered securities offerings through XRP sales. After numerous twists and turns, the lawsuit finally reached its trial stage in April this year.
Although this is the final phase, industry participants may wait a little longer for a final resolution due to the complexity of the legal process and potential appeals from both parties. A person who believe An agreement could be reached as early as this month, according to American lawyer Fred Rispoli.
An important issue in the dispute is the possible fine for Ripple. The SEC initially sought a fine of 2 billion dollars, while the company insisted on an unreported sum Larger Last month, the agency softened its tone and proposed a fine of $102.6 million.
Those who wish to learn more about the case and its impact on the price of XRP, feel free to watch our dedicated video below:
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