XRP has been on the watchlists of many top investors including veteran trader Peter Brandt, especially after its outstanding performance in the first quarter of the year that took its price above the $0.58 level on March 29.
The positive developments in the Ripple-SEC case perhaps contributed to the rise in the XRP price. However, the sixth-largest crypto asset has been in a downtrend in recent weeks.
Despite this present bearish outcome, members of the XRP community are optimistic that the asset’s price will soar by the end of May, showing their confidence in the form of votes cast on XRP’s average price estimation for the coming weeks on Coinmarketcap.
Notably, the social price estimates on the crypto-tracking platform project XRP to hit $0.4696 by the end of May following the votes cast by 1,135 crypto community members at the time of writing. This prediction implies that the price of XRP would rise by 7.59% or add $0.03312 to its current price at the time of writing.
While there is no guarantee that things would play out as estimated, it bears noting that XRP price prediction issued by the social price estimates on Coinmarketcap has 89% historical accuracy in the last six months.
Other factors such as a positive conclusion for XRP in the lawsuit between the Silicon Valley tech company and the U.S. SEC could perhaps contribute to the asset hitting the sky in the coming months.
As published, a new end date for the longstanding crypto lawsuit was recently rumored. Likewise, Ripple CEO Brad Garlinghouse reiterated that the U.S. SEC which is pushing to achieve crypto regulation by enforcement would lose in the XRP lawsuit.
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