TL:DR;
- Enemy number one for Ripple and many other cryptocurrency projects in the US will be leaving in January.
- XRP already reacted with a massive surge after the news broke, but how high can it go? This is the answer from ChatGPT and Perplexity.
Gensler Leaves, XRP Surges
The current chair of the US Securities and Exchange Commission announced on Thursday evening the long-anticipated news that he will leave his position at the agency on January 20, 2025 – the day president-elect Donald Trump will step into office.
The Commission has been in a nearly four-year-long battle against Ripple, which seemed close to a resolution during the summer of 2024 but faced another extension as the SEC appealed a previous 2023 ruling. As such, many started speculating that the only way the lawsuit would be concluded would be if Gensler and the current SEC leadership left.
Gensler’s announcement led to an immediate price reaction for XRP. The token stood below $1.2 on Thursday evening but skyrocketed to over $1.4 on Friday and above $1.6 earlier today, marking a 35% surge in just a few days. While there might also be other reasons behind this impressive rally, the most probable one seems related to Gensler’s impending departure from the SEC.
Where Is the Top?
The entire crypto market has been on a massive run since Trump won the elections a few weeks back. It has added over $1.2 trillion since then, and XRP is among the top performers, especially in the past 10 days.
While there are numerous predictions by the crypto community about XRP’s potential top during this cycle, we decided to ask two of the most popular AI chatbots – Perplexity and ChatGPT – about their views on the matter.
Perplexity outlined the changing market sentiment, which has turned highly bullish lately. It highlighted the growing possibility of the Ripple-SEC lawsuit resolution now that Gensler will no longer lead the latter as a potential propeller for an even more impressive rally for XRP.
Potentially better and friendlier crypto policy from Trump’s administration could also lead to gains. Consequently, Perplexity concluded that XRP could “potentially reach $5 if favorable regulatory changes occur and if investor sentiment continues to improve.”
After outlining the same reasons, ChatGPT provided a more modest short-term prediction for XRP of $1.96. If that resistance level is broken, the AI chatbot asserted that the next target will be $2.4. However, it warned that price predictions for the ever-volatile crypto market are a dangerous game and people should do their own research before hopping on any hot trend.
The post How High Can Ripple (XRP) Go With Gary Gensler Out of the Picture? (AI Bots Analyze) appeared first on CryptoPotato.