Ripple XRP has been fighting the SEC in an ongoing lawsuit filed by the commission. However, the lawsuit still keeps dragging on with no proper closure date. As a result of this pivotal decision, the price of XRP experienced a slump in the market.
XRP has not been quite as high as compared to other altcoins. XRP is trading at $0.5204, with a 3.2% drop in value over the past 24 hours. XRP is up 3.4% over the last 7 days and down 12.1% in the last 30 days. Here is our price prediction for Ripple XRP for mid-May.
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XRP price prediction for mid-May 2024
Cryptocurrency experts at Changelly have given their price prediction for Ripple XRP for mid-May. According to the analysts, XRP is forecast to reach a minimum of $0.553 and a maximum of $0.740. The average price of XRP is expected to be $0.646.
The price of XRP went as high as $0.8875 when a US judge declared that XRP is not a security. It provided a boost to the price of Ripple, and several exchanges relisted XRP. However, the price has plunged. In comparison to Ripple’s performance, the whole cryptocurrency market seems to be trading in the red.
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It’s no secret that XRP has dramatically underperformed the broader crypto market as the SEC’s lawsuit against Ripple clouded its regulatory standing.
However, Ripple has notched a series of legal victories this past year, swinging the case further in its favor and renewing hopes for a settlement. As certainty returns to XRP’s outlook, technical alignment now signals traders may rotate back into this high-flying but controversial asset.
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