Bitcoin
This is the price of XRP if Bitcoin hits $155,000
We recently asked OpenAI’s ChatGPT to suggest the potential value of XRP in a scenario where Bitcoin reaches a new peak of $155,000.
This comes in the middle suggestions from market analysts that a $155K price could be on the cards for the top crypto following the recent re-entry from $71K. Meanwhile, XRP remains dismal, even threatening to retest the $0.4 price channel in the last 24 hours.
ChatGPT XRP Outlook with Bitcoin for $155K
ChatGPT acknowledged that estimating the price of XRP in case Bitcoin hits $155,000 is complex. Although he noted the absence of a simple method to determine the value of XRP from the price of Bitcoin, he highlighted that Past trends may offer some clues.
Thus, the AI chatbot highlighted the historical correction in the movement of Bitcoin and altcoins like XRP, noting that a significant increase in Bitcoin generates a proportional increase for altcoins.
Meanwhile, ChatGPT noted that as Bitcoin’s price approaches $155,000, its dominance would determine the fate of altcoins. Specifically, it mentioned that if Bitcoin maintains high dominance after reaching $155K, altcoins may not witness comparable increases. On the other hand, a decline in Bitcoin’s dominance could redirect investment into altcoins like XRP.
Supporting this view, ChatGPT cited historical records such as the 2017 cycle when XRP peaked at $3.84 after Bitcoin closed above $20,000. Notably, XRP outperformed Bitcoin in recording over 750 times price gain.
To assess XRP’s prospects for this season, ChatGPT relied on Bitcoin and XRP’s peak values in the 2021 cycle. Given an increase from approximately $69K to $155K at a ratio of 2.25, ChatGPT projected a similar growth rate for XRP. Applying this ratio suggests that XRP’s 2021 high of $1.96 could rise to $4.41.
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However, unlike Bitcoin, which is currently close to its 2021 all-time high, XRP is significantly below its 2021 peak. In particular, XRP trades at $0.5199 as of today. Applying Bitcoin’s projected growth rate of 2.25 suggests that the achievable price of XRP would be $1.16.
Analysts disagree
However, independent analysts expressed strong disagreement with this perspective. They believe that XRP would also set a new all-time high if Bitcoin reaches $155,000. For example, Crypto Benny, who recently projected a price of $155,000 for Bitcoin, defined $5 target for XRP.
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 do thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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