Ripple (XRP) to $1 and Airdrop Details, Silly SHIB Speculation, and More: Bits Recap Sep 25th

The past few days have witnessed additional price predictions regarding Ripple’s native token – XRP. Some analysts envisioned a bull run for the asset, believing it could skyrocket above $1 in the near future. We also asked ChatGPT for its opinion on the matter.

Apart from XRP, Shiba Inu (SHIB) has also been in the spotlight. Shibarium’s Marketing Strategist outlined “the silliest stupid rumor” about the memecoin. 

What Could Push XRP to $1?

While the prolonged crypto winter and the ongoing legal battle between Ripple and the United States Securities and Exchange Commission have taken their toll on XRP’s price, the asset managed to soar to a 16-month high in mid-July of over $0.80.

Back then, the company secured a partial win against the regulator, resulting in overall excitement in the entire industry and a mini bull run for the coin.

However, the war seems far from over, with the SEC formally appealing the court’s decision at the beginning of September. The uncertainty and the fact that Ripple has not obtained a decisive victory have negatively impacted the price of XRP, which currently trades at around $0.49 (CoinGecko data). 

Still, many experts think the watchdog’s request will hit a dead end, triggering a potential rally for the asset. The popular analyst KALEO is among those. 

In addition, we asked the AI-powered language model ChatGPT about the catalysts that could drive XRP’s valuation above the $1 milestone. According to the answer, regulatory developments, the outcome of the Ripple v. the SEC lawsuit, speculation, market sentiment, and adoption, are the most essential factors.

XRP Holders Airdrop Details

Another update surrounding XRP is the airdrop that eligible clients of the Japanese cryptocurrency exchange GMO Coin are about to receive. 

Specifically, the company promised to distribute the yen equivalent of 0.1511 Songbird tokens (SGB) for every 1 XRP held by customers as of December 12, 2020 (the day when the US SEC filed a lawsuit against Ripple, accusing it of breaching securities laws).

Those who wish to take advantage of the offering should send a snapshot of their possession. The handout is expected to reach users by September 29, 2023.

The ‘Stupid Rumor’ Regarding SHIB

Last but not least, we will touch upon Shiba Inu and the recent speculation that certain figures involved with the memecoin and its developments have endorsed it out of financial motives.

Shibarium’s Marketing Strategist – LUCIE – claimed this is “the silliest stupid rumor,” saying SHIB gets mentioned because people have displayed huge interest in it.

They also advised investors to hold at least 10 million SHIB tokens ($73 at current rates) in their wallets “for good luck,” forecasting that the asset’s adoption and growth are about to rise.

The memecoin recently launched a layer-2 scaling solution that could help in its advancement goals. The name of that feature is Shibarium as those who want to learn in detail about it could take a look at out video.