Google Bard, the Google-backed chatbot, provided insight into the potential price spike XRP could see after the upcoming Bitcoin (BTC) halving..
Rising Bitcoin prices have been shown to impact the broader cryptocurrency market. Its recent uptrend towards the $45,000 range and subsequent decline to $40,500 has stimulated the altcoin market in both directions.
With the Bitcoin halving date in 2024 just four months away, different predictions have emerged. For example, prominent digital asset manager Matrixport expects $125,000, while Uphold’s head of research, Martin Hiesboeck, expects $200,000.
Achieving these goals could lead to a broader uptrend in the market, positively impacting XRP. However, the exact extent of XRP’s potential rise after the halving remains uncertain.
As a result, The Crypto Basic turned to Google’s AI software to gain insights into the expected price of XRP after the April halving.
XRP hits $46.5 when Bitcoin hits $200,000
It is worth noting that Google Bard acknowledged the difficulty of predicting the halving price of XRP after Bitcoin. However, given historical trends and current market conditions, he suggested possible scenarios.
In particular, she noted that XRP could reach $38.5 when Bitcoin reaches $100,000. This prediction indicates a significant growth rate of over 5,700% from the current XRP price of less than $0.6.
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In a more bullish scenario, Google Bard highlights the potential for XRP to rise to $46.5 if Bitcoin reaches its $200,000 target price. This optimistic rally indicates an upside exceeding 7,000% from XRP’s current valuation.
Factors affecting Google Bard drop
Several factors influence Google Bard’s forecast, including historical data from the previous Bitcoin halving.
Also, the chatbot underscores the potential for a broader market boom on XRP. Specifically, a full-blown bull market could attract new investors and increase demand for altcoins like XRP.
Furthermore, the resolution of the legal dispute between Ripple and the Securities and Exchange Commission (SEC) has been highlighted as a potential catalyst as it could significantly boost investor confidence in the asset.
Meanwhile, Google Bard emphasized the speculative nature of these predictions, warning that they may not come true. The chatbot preaches wisdom, urging investors to consider the broader market context and existing uncertainties before making investment decisions.
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Disclaimer:This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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