Ripple's XRP token is showing significant growth, nearing the $1.20 mark. In the past 24 hours, its value increased by almost 10%, indicating ongoing positive dynamics.
Current Dynamics of XRP Token
According to crypto.news, the XRP token has risen by 9.49% in the last 24 hours and is currently trading at $1.17. Since the beginning of November, the token has steadily increased in value, reaching $1.19 on November 17. Over the past seven days, the token has risen by more than 101.94%, and over the month by 114.33%. XRP is ranked sixth in the cryptocurrency market with a market cap of $66.5 billion.
Expert Forecasts and Opinions
XRP followed other major cryptocurrencies amidst Bitcoin's explosive rise to new record highs. Analyst @Cryptoinsightuk stated that XRP "looks ready to erupt" in the midst of this rally. The token's price is expected to vary between $0.69 and $3.09, with an average forecasted price of $1.66 according to Coincodex. DigitalCoinPrice predicts XRP could reach $2.46 up to $2.96, with an average level of $2.80.
Is the SEC vs Ripple lawsuit coming to a close?
The recent growth of XRP, aside from Bitcoin's dominance, is also linked to rumors of SEC Chairman Gary Gensler possibly stepping down. Since December 2020, Ripple Labs has been in a legal battle with the SEC over the alleged sale of unregistered securities. In July 2023, the court ruled that some XRP sales were not securities transactions. However, the SEC continues to appeal this decision. In October 2024, Ripple Labs filed a cross-appeal, highlighting that the conflict is far from over.
The rise of XRP amid the positive dynamics of the cryptocurrency market and ongoing legal proceedings with the SEC remain at the center of attention for both experts and investors. The continuation of these processes could significantly affect the token's future price.
