Elon Musk’s X Corps has developed an AI chatbot called Grok, which suggests that the price of XRP could potentially reach $1,000 if its total trading volume reaches $50 trillion.
Despite the ongoing bull market, XRP has struggled to surpass key psychological levels. Even as Bitcoin (BTC) hits new all-time highs and some altcoins reach three-year highs, XRP has been unable to break through the $0.75 mark.
This has been a recurring pattern for XRP, as it failed to exceed the $2 price point during the previous bull run in 2021. Some community members attribute this underperformance to the ongoing SEC lawsuit, while others believe that Ripple’s consistent sales have contributed to price suppression, a claim that Ripple CTO David Schwartz has consistently refuted.
Amid these debates, speculation has emerged regarding the fair value of XRP, with market participants basing their speculations on various metrics, including a potential increase in trading volume for XRP with greater adoption.
The AI chatbot Grok recently responded to a question from a Texas-based XRP community member about the potential price of XRP if it reached a $50 trillion trading volume. Grok suggested that, hypothetically, XRP’s price could reach $1,000 under these conditions, citing a circulating supply of 50 billion XRP tokens.
However, Grok emphasized that its assessment simplifies the correlation between trading volume and price, and that prices tend to correlate more directly with market cap and circulating supply.
Meanwhile, a web-based fair value calculator for XRP, developed by Susan Athney and Robert Mitchnick, presents an even more ambitious price target for XRP at a $50 trillion trading volume. The calculator estimates that XRP could reach $3,377 with these metrics, albeit with a daily trading volume of $50 trillion.
It’s important to note that the Athney and Mitchnick calculator is based on a daily trading volume of $50 trillion, while Grok’s evaluation is based on a total trade volume of $50 trillion. However, the likelihood of XRP reaching these projections is extremely low, as XRP is currently trading at $0.4915 with a daily volume of $1.54 billion.
Disclaimer: This content is for informational purposes only and should not be considered financial advice. The views expressed in this article are the author’s personal opinions and do not reflect those of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions, and The Crypto Basic is not responsible for any financial losses.