Ripple’s case with the SEC is now inching towards its cathartic conclusion, with Ripple contesting the SEC’s $2 billion penalty intent. The legal war that has been going on for more than two years now has played a crucial role in keeping the price of XRP shackled as compared to other crypto tokens.
While other crypto tokens surpassed XRP in terms of price pace and movement, XRP was dubbed a victim of skepticism. Due to unprecedented interventions in the case, the price of XRP suffered gravely, dipping to new lows.
But now that the SEC-Ripple war is nearing its end, with Ripple emerging victorious on most parts, the development may soon catapult XRP’s price to new highs, reversing the years-long slow price momentum.
Also Read: XRP Weekend Price Prediction: What’s In Store For Ripple?
Uncertainty Plays Out As XRP Drops To $0.50
Uncertainty around the case development is now weighing on XRP, which has dropped 2% in the last 24 hours. The token is now trading at $0.50, moving in tandem with the latest court developments.
The Court is yet to predict the finale of the SEC vs. Ripple case, driving XRP price uncertainty to new levels. Per Amelie, a notable XRP proponent, if the court agrees to Ripple’s $10 million payout, that would officially mark the end of the court mayhem. This may largely push the token to climb new price milestones, taking over leading altcoins to set a new market pace and record.
XRP Price Forecast for May
With legal uncertainty and mayhem dominating Ripple, the month of May can be particularly fruitful for the token. Per CoinCodex, the token is expected to hit $0.61, rising nearly 18% in the process.
“The price of XRP is predicted to rise by 18.87% and reach $0.616084 by May 28, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 65 (greed). XRP recorded 13/30 (43%) green days with 8.51% price volatility over the last 30 days.”
Also Read: Ripple XRP to Hit $1.4: Here’s When
If the court manages to put out a positive response in the Ripple vs. SEC case, the price of the asset can go bullish, breaching the $1 price mark in no time.
“A pivotal moment will be the breach of the $1 mark. Surpassing this level could substantially increase the probability of the price reaching the $2.23 potential high. Conversely, if the bearish trend persists and the price falls below $1.60, it may signal a prolonged breakdown phase.” Coinpedia was later added.
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