XRP Gets 60% Boost In Last 30 Days – Ripple Win Vs. SEC Seen To Lift Price Higher

Christian Encila

Last Updated: October 9, 2022 1:10 pm

3 mins read

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XRP is in a wait-and-see position as it braces for the conclusion of a lawsuit filed by the U.S. Securities and Exchange Commission against Ripple Labs.

XRP’s forecast average price for October 2022 is $0.50995
XRP, at one point, was up by almost 60%
Ripple Labs continue to gain procedural wins against SEC

It can be recalled that on December 22, 2020, the regulatory body announced it has lodged a complaint against the American technology firm and two of its executives for selling XRP which the complainant considers an unregistered security.

Christian Larsen, co-founder and former CEO of Ripple Labs and Bradley Garlinghouse, current CEO, was also included in the lawsuit as the duo was alleged to be involved in making around $600 million by selling the cryptocurrency.

Since then, the digital asset seems to have been relegated to the sidelines, affecting its performance in the crypto space.

In fact, XRP has now lost 85% of its $3.40-all-time high value attained on May 22, 2014. The crypto, however, is refusing to be dragged down, as it slowly climbs back to relevance.

XRP Posts Impressive 30-Day Growth

At press time, according to data from CoinMarketCap, XRP is currently changing hands at $0.51. It has been down by 1.7% for the past hour but at one point was up by almost 60% for the last 30 days.

The recent price correction experienced by the asset trimmed its monthly gain, which now stands at 50.3%.

Source: CoinMarketCap

Still, the 6th largest cryptocurrency in terms of market capitalization is one of the few altcoins that have managed to mount a bullish rally despite the bearish month of September.

Some analysts believe that one of the reasons for the crypto’s impressive performance is the fact that Ripple Labs managed to get procedural wins against SEC in their legal fight.

Just recently, a district judge has ordered the release of documents pertaining to a speech made by former Division Director William Hinman where he said Bitcoin and Ethereum are not securities.

XRP Price Forecast

At the start of this year, XRP has experienced fluctuations in its price that influence price forecast for the asset.

For this month, crypto experts say the asset’s average price will stand at $0.50995. The lowest possible price for the crypto this October is $0.45995 while the highest is $0.51995.

According to analysis, the coming month of November won’t be any different for XRP, as it is expected to trade at an average price of $0.51995. The crypto is expected to peak at $0.53995 and bottom at $0.48995.

In the foreseeable future, assuming Ripple Labs finally wins its legal dispute with the SEC, XRP is expected to hit and firmly hold the $1 mark.

XRP total market cap at $25.6 billion | Featured image from The Daily Hodl, Chart: TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.