XRP Price Prediction – Can XRP Hit $5 This Month?

cryptonews.com:

On Saturday, the XRP price prediction remains bullish above $0.50 as the coin has already crossed and closed above the 50-day moving average. After a four-day surge, the day began positively, and the XRP/USD pair started an uptrend, maintaining its bullish momentum.

Although Ripple, the firm behind the XRP token, remains in a legal battle with the Securities and Exchange Commission, the token has shown considerable gains despite the continued volatility in the cryptocurrency market (SEC).

According to data compiled by CoinMarketCap, the token's value increased by 46.30% in the past month and 8.20% this month to trade above $0.50 today. 

CoinMarketCap now ranks #6 with a live market cap of $25.77 billion. It has a total quantity of 100 billion XRP coins and a circulating supply of 49 billion XRP coins.

The current XRP price is $0.5184, and the 24-hour trading volume is $2.9 billion. In the previous 24 hours, XRP has increased by 5.50%. 

Given that most of the altcoins are still falling in value, XRP's recent surge stands out. XRP's positive gains can partially be ascribed to the latest developments in the Ripple case with the SEC.

SEC has filed suit against Ripple for releasing XRP as a security, but its defense has recently weakened, translating into fluctuating XRP prices. Ripple's defense against the SEC is based on the argument that XRP, like Ether, should not be considered a security because its only purpose is to facilitate transactions on a decentralized network.

The current Director of the SEC, Gary Gensler, has repeated that all cryptocurrencies other than bitcoin will be classified as securities, which is at odds with the claimed content of Hinman's conversations. 

The US Securities and Exchange Commission (SEC) is