The market has been good to XRP of late. In the aftermath of the FTX crisis, the asset price rose to $0.40. However, it isn’t out of hot water just yet. There continues to be a lot of uncertainty surrounding the outcome of the Ripple vs. SEC case and there are several other macroeconomic considerations to take into account as well. It’s safe to say that, at the moment, the future of the asset is nearly impossible to predict.
Even still, community conjecture has been sparked by the widespread belief that XRP will break the $1 threshold in 2023.
The live XRP price is $0.377883 USD with a 24-hour volume of $834,476,920 USD. XRP fell 2.44% overnight.
XRP to touch the $1,000 mark?
The XRP community was taken aback after Uphold’s Head of Research, Dr. Martin Hiesboeck, released a ChatGPT conversation involving XRP.
The conversational chatbot ChatGPT was released by OpenAI in November 2022. Hiesboeck claims a question concerning when XRP will be “mooning” was posed to ChatGPT.
After being asked to make a prediction on the stock market, the AI tool explained that it was never meant to do so. After some pushing, it revealed that March 23, 2023, was the XRP moon date and that it planned to acquire the massive bag just before mooning before setting sail into the sunset. “XRP reaching $589,000, Up yours XRPP,” ChatGPT chimed in.
The artificial intelligence tool may be alluding to the parody channel “XRP the Standard Productions,” which frequently pokes fun at developments in the cryptocurrency industry.
The Community Reacts
The XRP community was clearly amused by the tool’s answer, as evidenced by the number of “LOL” emojis posted in reply to the tweet.
Some people interpreted it as a prediction that XRP’s value will shoot to the “moon.” Hiesboeck penned, “Future value of XRP. ChatGPT, an AI that claims to know everything, has predicted the date that XRP will skyrocket in value. Following persistent prodding.”
Is $589K possible?
Looking at the current price target, it is challenging for industry experts to say that XRP will shoot anywhere to 589. To achieve this, XRP would need a 200x pump.
Supporting the claim, John Deaton, the founder of CryptoLaw and an advocate of blockchain technology, responded to Hiesboeck by adding, “And they said 589 was impractical.”
The majority of forecasts for XRP place its value over the $1,000 level, with several placing it in the five-digit range. XRP is now trading at $0.38, and realistically, the $589,000 price forecast was assessed to be impossible to achieve because the asset would need to surge by roughly 200 million percent.
David Gokhshtein anticipates the price of XRP might skyrocket if the SEC action is successful; however, the scope and scale of the potential price increase are unknown.
As the market recovers from the bloodshot of 2022, coins will struggle to reestablish investor confidence before any good Fed or political developments.