XRP, the 7th largest cryptocurrency by market valuation, has taken a hit as a result of the ongoing dispute against Ripple. The crypto community remains optimistic about the digital asset, forecasting a price increase by the end of May.
The crypto community predicted that the XRP coin will sell for an average of $0.8188 on May 31, 2022, with 2,028 votes. The predicted price represents a $0.1705 or 26.29% gain over the asset’s existing value in decentralised finance (DeFi).
The crypto community previously anticipated the month-end cost of XRP with an accuracy record of 77.57% based on the prior estimates.
XRP price analysis
According to the source, XRP is now trading at $0.6483, down 0.15% on the day and 14.41% over the last seven days.
The overall market cap of the coin is $31.16 billion at the time of publishing.
Meanwhile, Ripple, a software business not connected to XRP but an essential player in the XRP ecosystem, is still involved in a legal dispute with the US Securities and Exchange Commission (SEC).
Ripple and XRP ready to close the case
Both parties reached an agreement to file closing papers a few days before Christmas, thus delaying the lawsuit’s conclusion date to 2023. As previously reported by Finbold, the blockchain business planned fulfilment in the second half of November 2022.
