Google Bard Forecasts XRP Reaching $6 Under Specific Conditions

Google Bard Forecasts XRP

Google’s AI project, Bard, envisions a potential surge in XRP’s value to $6 by 2024 if Ripple secures a full victory against the SEC. The ongoing legal battle between Ripple and the US SEC continues to influence XRP’s price. For example, in April 2021, XRP saw its price rise to $1.9669. However, most experts believe that the asset could reach much higher prices if the SEC lawsuit that began in December 2020 concludes in Ripple’s favor.

What’s intriguing is that the legal case’s developments in recent years have had short-term effects on XRP’s price.

Past Impacts on XRP

On July 13, Ripple achieved a partial victory in its legal battle with the SEC. The court ruled that some XRP sales did not violate securities laws, while sales to institutional investors did. The court also determined that XRP itself was not a security. XRP surged over 97% from $0.47 to $0.93 on July 13.

However, the asset corrected all gains on that day. The SEC submitted a request for a temporary injunction against parts of the July 13 ruling they lost.

Yet, on October 3, the court rejected the SEC’s request. XRP once again reached its highest point in a month, hitting $0.5479 on October 3 following this ruling. However, the case is currently set for trial, expected to take place in April 2024.

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Potential Impacts of Ripple’s Victory

With the case set for trial in April 2024, we asked Bard, Google’s AI source, how XRP’s price might react if Ripple secures a final victory in the lawsuit.

In the short term, Bard suggests that XRP could experience a significant surge, reaching a price range between $2.50 and $3.00 if Ripple secures a final victory. This represents a substantial increase from the current price of $0.4816 but is still below the all-time high of $3.84.

Looking ahead to the end of 2023, Bard predicts that XRP could reach a price range of $3.50 to $4.00, assuming a favorable outcome in the lawsuit and a general cryptocurrency market rally.

A longer-term outlook into 2025 indicates that XRP could reach a range of $5.00 to $6.00 if it continues to gather momentum and gain adoption in the market.

According to Bard, the key factors supporting these predictions are elements that could drive XRP price increases if Ripple wins the legal battle with the SEC:

Enhanced Clarity and Legal Certainty: A final victory for Ripple could provide much-needed legal clarity and certainty for XRP investors and businesses, potentially boosting investment and adoption.

Institutional Investor Demand: The uncertainty resulting from the SEC lawsuit has made institutional investors cautious about XRP. However, Bard predicts that a full victory could eliminate this uncertainty, making XRP more attractive to institutional investors, thus increasing demand.

New Partnerships and Use Cases: Success for Ripple could open doors to new partnerships and creative use cases for XRP, further driving demand for the asset.

It’s important to note that these predictions are speculative and subject to change based on various variables. The actual price of XRP will depend on many different factors, including the broader state of the cryptocurrency market.

Key Development for XRP Price

XRP’s price has been significantly affected recently, with its seven-day cumulative performance showing a negative growth of 9%. Amid this downward trend, prominent XRP advocate Bill Morgan revealed an important update that could significantly impact XRP’s value.

Notably, Morgan expressed excitement about the “Wave Of Innovation,” a non-profit organization set to sponsor XRP developers, soon to host the XRP Gold Coast 2024 conference.

New Funding Source for XRPL Developers

Details of the announcement indicate that the Wave Of Innovation will act as a new funding source for developers working on XRPL. The sponsorship initiative took effect on Wednesday, October 11.

Morgan clarified that the Wave Of Innovation operates independently and is not associated with RippleX developer group or the payment company Ripple in San Francisco.

Additionally, he noted that the process of selecting recipients will be impartial, based on pre-determined criteria established by the Wave Of Innovation.

Furthermore, the XRP advocate disclosed that the criteria will be made public before the XRP Gold Coast conference in March next year.

To provide additional benefits to the XRPL developer community, Morgan emphasized that even developers working on sidechains of XRPL will qualify for this funding. He encouraged developers to seize the opportunity by expressing their interest in the Wave Of Innovation.

This development has sparked enthusiasm in the XRP community, as it creates a robust avenue to invigorate XRPL development efforts and further drive XRP’s appeal in the market.

Crypto Eri, a notable influencer in the XRP community, expressed careful consideration of this announcement. She reaffirmed the independence of the sponsor, emphasizing that recipient selection will not be influenced by external factors.

Particularly, the Wave Of Innovation collaborates with Ripple and others, supporting developers in the XRP ecosystem. Recall that Ripple provided $100,000 to a decentralized exchange on XRPL from their sponsorship program a few months ago.

Ultimately, this new source of funding is expected to inject fresh energy into the XRP ecosystem, laying the groundwork for exciting developments within XRPL and increasing the attractiveness of XRP in the market.