XRP Gets 60% Boost in Last 30 Days

XRP is in a wait-and-see mode as it prepares to complete a lawsuit filed by the US Securities and Exchange Commission against Ripple Labs.

• Expected average price of XRP for October 2022 is $0.50995
• XRP, at one point, nearly 60% up
• Ripple Labs continues to score procedural victories against SEC

It is worth noting that on December 22, 2020, the regulator announced that it had filed a complaint against the US technology company and two of its executives for selling XRP, which the complainant considers an unregistered security.

Christian Larsen, the former co-founder and CEO of Ripple Labs, and Bradley Garlinghouse, the current CEO, are also included in the lawsuit in which the duo is allegedly involved in making about $600 million through the sale of cryptocurrency.

Since then, the digital asset appears to have been neglected, affecting its performance in the crypto space.

In fact, XRP has now lost 85% of its $3.40 high made on May 22, 2014. However, the cryptocurrency is refusing to be pulled lower, as it is slowly returning to its relevance.

XRP achieves amazing growth for 30 days

At press time, according to data from CoinMarketCapXRP is currently trading at $0.51. It’s down 1.7% over the past hour but at one point rose nearly 60% over the past 30 days.

The asset’s recent price correction has pared its monthly gain, which now stands at 50.3%.

Source: CoinMarketCap

Still, 6The tenth The largest cryptocurrency by market capitalization is one of the few cryptocurrencies that managed to make a bullish run despite the bearish month in September.

Some analysts believe that one reason for the cryptocurrency’s impressive performance is the fact that Ripple Labs has managed to score procedural victories against the SEC in its legal battle.

Recently, a district judge ordered the release of documents related to a speech given by former division manager William Henman in which he said that Bitcoin and Ethereum are not securities.

XRP Price Predictions

At the beginning of this year, XRP experienced fluctuations in its price that affected the asset’s price predictions.

For this month, crypto experts say the average price of the asset will stand at $0.50995. The lowest possible price for the cryptocurrency in October is $0.45995 while the highest is $0.51995.

According to the analysis, this coming November will be no different for XRP, as it is expected to trade at an average price of $0.51995. The cryptocurrency is expected to reach a high of $0.53995 and a low of $0.48995.

For the foreseeable future, assuming Ripple Labs finally wins its legal dispute with the Securities and Exchange Commission, XRP is expected to hit and hold the $1 mark solidly.

XRP total market cap at $25.6 billion | Featured image from The Daily Hodl, Chart: TradingView.com

Originally published at San Jose News Bulletin