ChatGPT has this to say about XRP’s 2024 price prediction
Ripple Labs and XRP – What’s the relationship?
XRP is a cryptocurrency that Ripple Labs uses to conduct transactions on its network. While Ripple is a centralized fintech company that began as Ripplepay in 2004, it was later co-founded by Chris Larsen and Jed McCaleb in 2012 with the vision of creating a faster and more secure way of doing transactions around the world.
Battling the SEC
United States’ SEC filed a lawsuit against Ripple Labs in 2020 for selling XRP as an “unlicensed security,” claiming that the distribution of $1.3 billion worth of the crypto to its stakeholders violated the law. The major bone of contention here was whether XRP was a security and therefore, whether it is a share in Ripple or if it was a cryptocurrency like Bitcoin.
Conclusion
Whether or not XRP reaches the $10-mark in the first half of 2024 is something only time will tell. To its credit, the crypto’s price did hike somewhat right after the ruling and has been trading within a zone after that. Hence, things are looking a little optimistic for the crypto. ChatGPT is particularly optimistic about XRP’s future too.
