Despite ongoing legal disputes involving Ripple, XRP has maintained its position in the cryptocurrency market and continues to rank among the top ten digital currencies by market capitalization. Investors continue to predict XRP’s future price movement as it tries to emerge from the overall crypto bear market despite the lawsuit.By the end of September 2022, the crypto community at CoinMarketCap predicts that XRP will trade at an average price of $0.49, up more than 50% from where it is now. The forecast is based on 1,166 community members’ votes submitted through the price estimate function.The community’s bullish stance coincides with XRP Price seeing marginal gains; as of press time, it was trading at $0.32, a decrease of about 0.79% over the previous day.On August 26, the token eventually reached a new two-week high of $0.37 after its network executed three sizable transfers totaling $51 million involving the cryptocurrency exchanges Bitso and FTX.Ripple Vs SEC Although, XRP will still face a number of obstacles that might drive it lower. Notably, the asset is still being affected by the legal dispute between Ripple and the SEC while both sides wait for the matter to be resolved.If Ripple wins the lawsuit, the value of the XRP coin is likely to increase. Notably, if the case favors Ripple, it would be regarded as a security in the United States and would likely have a different effect on price. It’s important to note that Ripple anticipates the legal battle to last until about November 2022. Both parties have traded charges throughout the contentious litigation, with Ripple Labs General Counsel Stu Alderoty accusing the SEC of failing to protect investors.XRP may benefit from Ripple’s continuous global expansions to enhance cross-border payments regardless of the outcome of the litigation. For instance, Ripple just introduced its cryptocurrency on-demand liquidity (ODL) service in Brazil in collaboration with Travelex Bank.Was this writing helpful?
