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AI chatbot ChatGPT has predicted a possible XRP price spike if Donald Trump wins the forthcoming U.S. presidential election.
With the November election merely a few weeks away, the crypto community has become more involved due to the possible effects the outcome of the polls could have on Bitcoin (BTC) and the crypto industry at large.
Significance of the US Presidential Election
For instance, several crypto-influenced Political Action Committees (PACs) have sprung up over the past few months to drum up support for either GOP candidate Donald Trump or Democratic nominee Kamala Harris.
Notably, super PAC Future Forward USA is set to receive $10 million in XRP from Ripple Chairman Chris Larsen in support of Kamala Harris. In addition, Trump 47, a PAC looking to support Donald Trump’s presidential ambitions, has received $7.5 million in crypto donations from crypto leaders.
This increased involvement in the forthcoming elections confirm how pivotal the crypto community views the next U.S. administration, and how the policies from such administration could impact the industry.
Notably, the current Biden administration has been criticized as disastrous due to the lack of clarity for the crypto industry and enforcement actions from SEC Chair Gary Gensler. Some argue that this lack of clarity has stifled the growth of the industry in the U.S.
A classic instance is the legal battle between Ripple and the SEC, which has lasted for nearly four years. XRP, which has underperformed since it dropped from the $3.3 peak in January 2018, has faced price suppression, which some market commentators believe stems from the legal case.
ChatGPT Projects XRP Price if Trump Wins
Trump already leads Harris on Polymarket. Most crypto industry leaders believe a win for Trump, who has been more crypto friendly, could turn the tide for the entire industry, and XRP could gain from such a regulatory shift, potentially staging a rally. However, the extent of this rally remains unclear.
As a result, we recently asked OpenAI’s ChatGPT to predict what XRP price could be if it rallies on the back of a win for Donald Trump. In response, the chatbot confirmed that XRP price could actually surge if Trump wins and implements policies favorable to the crypto industry.
These policies could result in regulatory clarity and better adoption of cryptocurrencies. Should this occur, ChatGPT believes XRP price could soar to a price range of $1.50 to $2 months after Trump wins. However, this will depend on the market momentum and level of adoption.
Interestingly, the chatbot speculates that a wider bull market run could see XRP transcend the $2 mark. ChatGPT sees XRP reaching $3 or even higher, with a potential to reclaim the $3.8 peak if the bull run momentum prevails. XRP would need to rise by more than 600% to claim the $3.8 price.