The crypto community gives a bullish XRP price prediction for the end of September
Disclaimer: The CoinMarketCap cryptocurrency community price estimate is based solely on the votes of its users. Estimates do not guarantee end of month prices.
XRP has managed to maintain its position in the crypto market, maintaining a place among the top ten digital assets by market capitalization despite the ongoing legal controversies surrounding Ripple.
Amid the lawsuit, investors continue to speculate on XRP’s next price move as it tries to exit the broader crypto bear market.
In fact, the CoinMarketCap crypto community estimates that XRP will trade at an average value of $0.49 by the end of September 2022, climbing over 50% from its current price at publication. The prediction is according to votes from 1,166 community members using the price estimate feature.
XRP gives smaller gains
The community’s bullish stance comes as XRP recorded smaller gains, trading at $0.33 as of press time, up nearly 3% over the past 24 hours. At one point, the token hit a new two-week high of $0.37 on August 26 after its network processed three large transfers worth $51 million involving crypto exchanges Bitso and FTX.
If the bullish stance is maintained, XRP will still have several obstacles along the way that will likely push it lower. In particular, the legal battle between the SEC and Ripple continues to weigh on the asset as both parties await the case’s conclusion.
The XRP token is likely to increase in value if the lawsuit is settled in Ripple’s favor. In particular, if the case goes against Ripple, it will be considered a security in the US and will and likely will affect the price in a different direction.
What next for XRP after SEC lawsuit?
It’s worth mentioning that Ripple expects the trial to drag on until around November 2022. Amidst the controversial lawsuit, both sides have traded accusations, with Ripple Labs’ general counsel Stu Alderoty accusing the SEC of not helping investors.
“What we need is regulatory clarity for crypto, not the SEC swinging its billy club to protect turf at the expense of the more than 40 million Americans in the crypto economy,” Alderoty said.
Despite the lawsuit’s outcome, XRP could get a boost from Ripple’s ongoing global expansion to improve cross-border payments. For example, Ripple recently partnered with Travelex Bank to launch its cryptocurrency on-demand liquidity (ODL) service in Brazil.
ODL for the digital payment service will leverage XRP to accelerate the conversion and transfer of fiat money across nations.
Disclaimer: The content of this page should not be considered investment advice. Investment is speculative. When you invest, your capital is at risk.
