Ripple’s case with the SEC is now nearing its cathartic conclusion, with Ripple challenging the SEC’s $2 billion penalty intent. The legal war that has lasted for over two years has played a crucial role in maintaining the price of XRP relative to other crypto tokens.
While other crypto tokens have outperformed XRP in terms of pace and price movement, XRP has been called a victim of skepticism. Due to unprecedented interventions in this matter, the price of XRP suffered severely, falling to new lows.
But now that the SEC-Ripple war is coming to an end, with Ripple emerging victorious in most areas, the development could soon propel the price of XRP to new highs, reversing the slow price momentum that has lasted for years.
Also Read: XRP Weekend Price Prediction: What lies ahead for Ripple?
Uncertainty plays out as XRP drops to $0.50
Uncertainty around developments in the matter is now weighing on XRP, which has fallen 2% in the last 24 hours. The token is now trading at $0.50, moving in tandem with the latest legal developments.
The Court has yet to predict the outcome of the SEC v. Ripple case, pushing XRP price uncertainty to new levels. According to Amelie, a notable XRP supporter, if the court accepts Ripple’s $10 million payment, it would officially mark the end of the legal chaos. This could go a long way to pushing the token to new price milestones, overtaking major altcoins to set a new pace and market record.
XRP Price Prediction for May
With legal uncertainty and chaos dominating Ripple, May may be a particularly fruitful month for the token. According to CoinCodex, the token is expected to reach $0.61, up almost 18% in the process.
“The price of . XRP recorded 13/30 (43%) green days with a price volatility of 8.51% over the last 30 days.
Also Read: Ripple XRP To Hit $1.4: Here’s When
If the court manages to give a positive answer in the Ripple vs. SEC case, the price of the asset can turn bullish, crossing the $1 mark in no time.
“A pivotal moment will be the crossing of the $1 mark.. Breaking above this level could significantly increase the likelihood of the price reaching the potential high of $2.23. Conversely, if the downtrend persists and the price falls below $1.60, it could signal an extended breakout phase. Coinpedia was later added.
reference: watcher.guru