ChatGPT expects XRP's price to hit $2-$3 by the end of 2023. However, its on-chart metrics suggest its price rally isn't going to last long.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.The SEC made a serious mistake going after Brad & Chris personally – and now, they’ve capitulated, dismissing all charges against our executives. This is not a settlement. This is a surrender by the SEC.As the legal case seemed to be turning in favor of Ripple, its value rose by 8% within a day. At press time, XRP was trading at $0.52054.
An AI solution can certainly be used to attain some clarity, specifically ChatGPT. OpenAI’s ChatGPT is a generative AI model that has gained massive traction since its initial rollout, with use cases across many industries. Can it be helpful in XRP price analysis and prediction? Well, the answer is surprisingly basic.Fundamental analysis is one of the basic ways to determine the intrinsic value of an asset.
Now we know the fundamental analysis and market sentiment, especially from the lawsuit angle. So, how has XRP performed so far in the past? Would ChatGPT be helpful on this front too?Although historical data doesn’t necessarily affect future price movements, price action is king in technical analysis. And past trends can offer crucial insights. We asked ChatGPT to pull XRP’s historical price action data to accomplish this step.In early 2017, XRP was trading at less than $0.01 per token.
In 2020, XRP’s price remained relatively stable in the first half of the year, hovering between around $0.15 and $0.25. However, in December 2020, the U.S. Securities and Exchange Commission announced a lawsuit against Ripple, claiming that XRP was an unregistered security. This caused XRP’s price to drop sharply, falling to around $0.17 by the end of the year.
However, ChatGPT has limited access to information from 2021 or below. That makes it difficult to pull data beyond 2021, let alone make future predictions, which OpenAI’s policy firmly prohibits. Ergo, we followedPushing the AI model beyond OpenAI’s limitations doesn’t guarantee output accuracy. The classic version clearly stated it has no access to data beyond September 2021.However, the jailbreak version tells us that XRP’s highest value in 2022 was $3.84. But XRP didn’t even cross $1 in 2022.
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