{"id":14997,"date":"2024-10-19T07:14:06","date_gmt":"2024-10-19T07:14:06","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=14997"},"modified":"2024-10-19T07:14:06","modified_gmt":"2024-10-19T07:14:06","slug":"can-the-xrp-price-hit-1-when-ripples-stablecoin-goes-live-chatgpt-analyzes","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=14997","title":{"rendered":"Can the XRP Price Hit $1 When Ripple\u2019s Stablecoin Goes Live? (ChatGPT Analyzes)"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Ripple plans to launch a stablecoin, RLUSD, later this year, which could boost confidence in its technology and possibly result in a rallying XRP price.<\/span>
\nAnother element that could impact the token\u2019s volatility is the Ripple v. SEC case, whose official end seems to <\/span>be prolonged<\/span> in the future.<\/span><\/p>\n

<\/a><\/span><\/h2>\n

ChatGPT\u2019s Estimation<\/h2>\n

In April this year, Ripple<\/span>\u00a0<\/span>revealed<\/span><\/a> its plans to introduce a stablecoin pegged 1:1 to the US dollar.<\/span> In the following months, the team shed further details about the product. It will be called RLUSD and <\/span>will be<\/span> available on the XRP Ledger (XRPL) and Ethereum.<\/span><\/p>\n

The stablecoin <\/span>is expected<\/span> to go live later this year, with Ripple recently <\/span>naming<\/span><\/a> Bitstamp, Bitso, Uphold, Bullish, CoinMENA, Independent Reserve, and MoonPay as exchange partners of the initiative.<\/span><\/p>\n

Some market observers believe the eventual launch of RLUSD could positively impact the price of XRP due to various reasons. We <\/span>decided to ask<\/span> ChatGPT whether it shares that thesis and whether the development could fuel a spike toward a three-year high of $1.<\/span><\/p>\n

The AI-powered chatbot claimed the development might boost confidence in Ripple\u2019s technology, driving increased interest and adoption of its blockchain and payment solutions. <\/span>This<\/span>, in turn, could result in an additional number of investors and a rising XRP price.<\/span><\/p>\n

Currently, the asset is trading at around $0.55 (per CoinGecko\u2019s data), meaning it needs to skyrocket by over 80% to hit the <\/span>depicted<\/span> target. According to ChatGPT, such an exponential increase will depend on numerous factors (not only the launch of RLUSD).<\/span><\/p>\n

Some of the mentioned elements include a favorable resolution of the Ripple v. SEC lawsuit and overall bullish conditions of the <\/span>entire<\/span> cryptocurrency market.<\/span><\/p>\n

The SEC Case Goes on<\/span><\/h2>\n

The legal battle, which started in December 2020, seems nowhere near its end. <\/span><\/p>\n

Earlier this week, the SEC officially <\/span>appealed<\/span><\/a> parts of Judge Analisa Torres\u2019 2023 summary judgment, which determined that Ripple\u2019s sales of its XRP token to retail investors on crypto exchanges did not violate US securities laws. On the other hand, the regulator did not contend with the asset\u2019s status as non-security.<\/span><\/p>\n

Speaking on the matter was the<\/span> American attorney Jeremy Hogan <\/span>who <\/span>described<\/span><\/a> the SEC\u2019s latest filing as \u201ca chicken move.<\/span>\u201d\u00a0<\/span><\/p>\n

\u201cThe SEC completely folded when it had the opportunity to <\/span>actually<\/span> try the case against Garlinghouse and Larsen in front of a jury. And now it\u2019s trying to bring those claims back to life,\u201d he argued.<\/span><\/p>\n

The post Can the XRP Price Hit $1 When Ripple\u2019s Stablecoin Goes Live? (ChatGPT Analyzes)<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Ripple plans to launch a stablecoin, RLUSD, later this year, which could boost confidence in its technology and possibly result in a rallying XRP price. Another element that could impact the token\u2019s volatility is the Ripple v. SEC case, whose official end seems to be prolonged in the future. ChatGPT\u2019s Estimation In April this […]<\/p>\n","protected":false},"author":0,"featured_media":14998,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-14997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/14997"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14997"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/14997\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/14998"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}