While the seventh-largest cryptocurrency by market capitalization, XRP has suffered from a protracted litigation battle with the SEC, the cryptocurrency community is optimistic about the token’s price, predicting that it will rise by the end of May.
So, CoinMarketCap users predict that XRP will trade at an average price of $0.8188 on May 31, 2022, with 2,028 communities in favor. Specifically, the estimated price points to an increase of $0.1705, or 26.29%, over the asset’s current value.
The 1,070 votes are in favor of XRP trading at $0.8115 at the end of June, an increase of $0.1632 or 25.18% from its April 28 price.
Based on previous forecasts, the cryptocurrency community has projected the price of XRP to be 77.57 percent accurate.
According to CoinMarketCap, XRP is currently trading at $0.6483 with a negative daily trend of 0.15% and a weekly loss of 14.41%.
Meanwhile, software developer Ripple is still in a legal battle against the U.S. Securities and Exchange Commission (SEC).
The two sides recently agreed to hand over closing briefs a few days before Christmas, effectively pushing the end of the lawsuit back to 2023. Defendant had previously expected the trial to be completed by the second half of November 2022.