XRP has been in a waiting-and-see mode as it prepares for Ripple Labs’ lawsuit.
- XRP’s forecast average price for October 2022 is $0.50995
- At one time, XRP was almost 60% higher than it was at the beginning.
- Ripple Labs continues to win procedural victories against the SEC
The regulatory body filed a complaint on 22 December 2020 against an American technology company and its two executives regarding the sale of XRP, which it considers unregistered security.
Christian Larsen was co-founder of Ripple Labs, and was the former CEO. Bradley Garlinghouse was the current CEO. The duo were alleged to have been involved in the sale of cryptocurrency, which made them approximately $600 million.
The digital asset has been seen as being relegated since then. This is affecting its performance within the crypto space.
Actually, XRP now has lost 85% off its record $3.40 high of May 22, 2014 (which was the highest ever recorded). However, the crypto is not being dragged down and it continues to climb back to relevance.
XRP Reports Significant 30-Day Growth
According to data from, CoinMarketCapCurrent exchange rate for XRP at $0.51 The price has fallen by 1.7% in the hour, but was at one time up almost 60% over the 30 days.
This asset has seen a recent price correction that has slowed its monthly gains, now at 50.3%.
The 6ThThe largest cryptocurrency by market capitalization, it is also one of few altcoins to have managed to rally in bullish spite of being bearish in September.
Some analysts believe that one of the reasons for the crypto’s impressive performance is the fact that Ripple Labs managed to get procedural wins against SEC in their legal fight.
Recently, a District Judge ordered that documents related to an address by William Hinman (ex-Division Director) be made public. Hinman stated that Bitcoin and Ethereum were not securities.
Forecast Price for XRP
XRP experienced price fluctuations at the beginning of 2018, which have influenced the forecast price for this asset.
For this month, crypto experts say the asset’s average price will stand at $0.50995. This October, the lowest price possible for crypto is $0.45995 and the highest is $0.51995.
According to analysis, the coming month of November won’t be any different for XRP, as it is expected to trade at an average price of $0.51995. It is predicted that the crypto will reach its highest point at $0.53995, and lowest at $0.48995.
If Ripple Labs wins the legal battle with the SEC in the foreseeable future, XRP will likely hit the $1 mark and hold it firmly.
Image from The Daily Hodl. Chart by TradingView.com| Featured image from The Daily Hodl, Chart: TradingView.com