The article also includes predictions from ChatGPT, a computer program, which suggests that XRP could see short-term momentum due to increased investor confidence following the favorable court ruling. However, it also warns that the market could slow down in the long term due to factors such as adoption, sentiment, and regulatory clarity. ChatGPT predicts that XRP could reach $10 per token in the first quarter of 2024 and surpass its all-time high in 2024. However, the article advises investors to conduct their own research and not rely solely on these predictions.
Key takeaways:
- Ripple Labs recently announced a buyback of $285 million worth of shares from its employees and early investors, with plans to spend $500 million in planned buyback to cover the costs of converting restricted stock units into taxes and shares.
- XRP, the cryptocurrency used by Ripple Labs, was ruled not to be a security by a court in July 2023, ending a lawsuit by the SEC that had been ongoing for several years.
- ChatGPT, an AI bot, predicts that XRP could see short-term momentum due to the favorable court ruling, and could potentially hit $10 per token in 2024.
- Despite the optimism, the article advises investors to do their own research and not solely rely on AI predictions when investing in XRP.