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.<\/p>\n
XRP\u2019s forecast average price for October 2022 is $0.50995
\nXRP, at one point, was up by almost 60%
\nRipple Labs continue to gain procedural wins against SEC<\/p>\n
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.<\/p>\n
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.<\/p>\n
Since then, the digital asset seems to have been relegated to the sidelines, affecting its performance in the crypto space.<\/p>\n
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.<\/p>\n
XRP Posts Impressive 30-Day Growth<\/p>\n
At press time, according to data from CoinMarketCap<\/a>, 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.<\/p>\n The recent price correction experienced by the asset trimmed its monthly gain, which now stands at 50.3%.<\/p>\n Source: CoinMarketCap<\/a><\/p>\n 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.<\/p>\n Some analysts believe that one of the reasons for the crypto\u2019s impressive performance is the fact that Ripple Labs managed to get procedural wins against SEC in their legal fight.<\/p>\n 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.<\/p>\n XRP Price Forecast<\/p>\n At the start of this year, XRP has experienced fluctuations in its price that influence price forecast for the asset.<\/p>\n For this month, crypto experts say the asset\u2019s 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.<\/p>\n According to analysis, the coming month of November won\u2019t 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.<\/p>\n 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.<\/p>\n\n XRP total market cap at $25.6 billion | Featured image from The Daily Hodl, Chart: TradingView.com<\/a><\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n 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.<\/p>\n XRP\u2019s forecast average price for October 2022 is $0.50995 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.<\/p>\n 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.<\/p>\n Since then, the digital asset seems to have been relegated to the sidelines, affecting its performance in the crypto space.<\/p>\n 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.<\/p>\n XRP Posts Impressive 30-Day Growth<\/p>\n At press time, according to data from CoinMarketCap<\/a>, 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.<\/p>\n The recent price correction experienced by the asset trimmed its monthly gain, which now stands at 50.3%.<\/p>\n
\nXRP, at one point, was up by almost 60%
\nRipple Labs continue to gain procedural wins against SEC<\/p>\n