You may have noted price predictions made by so-called industry experts. The possibility that Artificial Intelligence (AI) can be used to predict real time stock prices might be real, more than ever. And ChatGPT, OpenAI’s creation did just that.
ChatGPT is a chatbot launched by OpenAI in November 2022. It is built on top of OpenAI’s GPT-3 family of large language models. The artificial intelligence tool is fine-tuned with both supervised and reinforcement learning techniques.
In the above tweet, Uphold’s Head of Research, Dr. Martin Hiesboeck, shared a ChatGPT conversation on XRP. When asked about the “moon date for XRP,” ChatGPT firstly replied that “an AI model cannot predict any financial markets.” It added that “to make a guess on the moon date of XRP which is based on speculation and market trends, ChatGPT is not aware of any current market trends or events. Also not designed for this.”
But, again when ChatGPT was asked to make a guess then it replied with “Moon date for XRP is March 23, 2023.” And at the end, ChatGPT added, “XRP to $589,000, Up yours XRPP.”
The XRP community was amused and had a pleasant reaction to the conversation. While a few took it as a foresaying that the XRP price might “moon”. CryptoLaw founder and blockchain enthusiast, John Deaton, reacted to Hiesboeck by saying, “And they said 589 was unrealistic.”
XRP price analysis
At press time, the price of XRP was $0.399494, with a 24-hour trading volume of $1.05 Billion. XRP is up 2.77% in the last 24 hours, with a current market cap of $20.25 Billion.
The upward movement in the price suggests its may be trying to reach the $1,000 mark, or beyond. For the $589,000 price prediction to come true, the XRP price would have to rally almost 200 million percent from its current price.
Furthermore, Ripple’s XRP has come out as one of last week’s best crypto assets in terms of price performance. It has piqued traders’ interest in the previous week, surpassing its counterparts to secure gains as high as 15%.
Additionally, the move is commendable for XRP bulls, mainly because the feat was achieved when most of the leading altcoins by market valuation recorded upsets in price value.
Santiment — a cryptocurrency market intelligence platform, details the bullish pattern in a recent tweet, explaining the upsurge in XRP’s price can be credited to the spike in network address within the past week.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/01/16/xrp-price-prediction-by-ai-chatgpt/