In a recent significant development, a US judge handed down a ruling that determined Ripple’s XRP should not be classified as a security. 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 remarkable surge in the market.
However, the surge was short-lived. XRP’s price has not been quite as high as compared to other altcoins. XRP is trading at $0.4954, with a 0.6% drop in value over the past 24 hours. XRP is down 20% over the last 7 days and 18.1% in the last 30 days. Here is our price prediction for Ripple XRP for the weekend.
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Cryptocurrency experts at Changelly have given their price prediction for Ripple XRP for the weekend. According to the analysts, XRP is not likely to hit the $1 level this weekend. The analysts forecast XRP to reach a minimum of $0.62 and a maximum of $0.66.
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.
Disclaimer: Our articles are NOT financial advice, we are not financial advisors. All investments are your own decisions. Please conduct your own research and seek advice from a licensed financial advisor.
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