XRP Gets 60% Boost In Last 30 Days – Ripple Win Vs. SEC Seen To Lift Price Higher
09 Outubro 2022 - 10:10AM
NEWSBTC
XRP is in a wait-and-see position as it braces for the conclusion
of a lawsuit filed by the U.S. Securities and Exchange Commission
against Ripple Labs. XRP’s forecast average price for October 2022
is $0.50995 XRP, at one point, was up by almost 60% Ripple Labs
continue to gain procedural wins against SEC It can be recalled
that on December 22, 2020, the regulatory body announced it has
lodged a complaint against the American technology firm and two of
its executives for selling XRP which the complainant considers an
unregistered security. Christian Larsen, co-founder and former CEO
of Ripple Labs and Bradley Garlinghouse, current CEO, was also
included in the lawsuit as the duo was alleged to be involved in
making around $600 million by selling the cryptocurrency. Since
then, the digital asset seems to have been relegated to the
sidelines, affecting its performance in the crypto space. In fact,
XRP has now lost 85% of its $3.40-all-time high value attained on
May 22, 2014. The crypto, however, is refusing to be dragged down,
as it slowly climbs back to relevance. XRP Posts Impressive 30-Day
Growth At press time, according to data from CoinMarketCap, XRP is
currently changing hands at $0.51. It has been down by 1.7% for the
past hour but at one point was up by almost 60% for the last 30
days. The recent price correction experienced by the asset trimmed
its monthly gain, which now stands at 50.3%. Related Reading:
Ethereum Price Looking At Possible Downward Shift – More Headaches
Ahead For ETH? Source: CoinMarketCap Still, the 6th largest
cryptocurrency in terms of market capitalization is one of the few
altcoins that have managed to mount a bullish rally despite the
bearish month of September. Some analysts believe that one of the
reasons for the crypto’s impressive performance is the fact that
Ripple Labs managed to get procedural wins against SEC in their
legal fight. Just recently, a district judge has ordered the
release of documents pertaining to a speech made by former Division
Director William Hinman where he said Bitcoin and Ethereum are not
securities. XRP Price Forecast At the start of this year, XRP has
experienced fluctuations in its price that influence price forecast
for the asset. For this month, crypto experts say the asset’s
average price will stand at $0.50995. The lowest possible price for
the crypto this October is $0.45995 while the highest is $0.51995.
According to analysis, the coming month of November won’t be any
different for XRP, as it is expected to trade at an average price
of $0.51995. The crypto is expected to peak at $0.53995 and bottom
at $0.48995. In the foreseeable future, assuming Ripple Labs
finally wins its legal dispute with the SEC, XRP is expected to hit
and firmly hold the $1 mark. Related Reading: Meme Coin Wars –
Floki Inu Vs. Dogecoin And Shiba Inu – Who Wins? XRP total market
cap at $25.6 billion | Featured image from The Daily Hodl, Chart:
TradingView.com
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