XRP has recently faced a declining trend, which led to the loss of the critical support level at $0.50. This drop can be attributed to overall market conditions and the ongoing lawsuit between Ripple and the Securities and Exchange Commission (SEC), making XRP a continued point of interest.
XRP Speculation!
Considering the legal dispute, XRP’s price has become a subject of speculation in the broader crypto market as market participants propose different possible scenarios.
For instance, on the crypto tracking platform CoinMarketCap, members of the XRP community predict an ending in July 2023 with a slightly positive performance compared to its current valuation. At the time of writing this article, community members, with 519 votes, predict XRP to trade at an average price of $0.4866 on July 31, which means a gain of over 3% from its current price.
XRP Price Prediction!
The community also anticipates the bullish momentum to continue in the upcoming months. By the end of August, 326 voting members foresee over a 5% gain for XRP, which could potentially reach $0.49. In addition, 203 members are predicting a revival of the $0.50 position with XRP trading at $0.5628, reflecting approximately 20% gains from its current price.
Notably, the community members have an average past accuracy of 91.7% over six months. The highest accuracy rate reached 99.06% in April 2023. XRP was trading at $0.47 when this article was written, demonstrating the asset’s consolidation in recent days. It also earned less than 0.5% in the last 24 hours. However, the weekly chart saw XRP experiencing a decline of over 2%. Despite the lawsuit’s implications, XRP showed resilience and emerged as the third most traded cryptocurrency in Q2 2023. The community, while waiting for the summary judgment date, is also evaluating various scenarios by concerned parties.
