As April concludes, the month has been a rollercoaster for cryptocurrency enthusiasts. Ripple [XRP] in particular, has had a topsy-turvy ride throughout the month. However, it is poised for a notable surge, influenced by both market dynamics as well as legal proceedings.
After consolidating in the range of $0.46 to $0.50, XRP has witnessed a bullish recovery. The asset surged and registered a 25% jump from the lows it faced during the April 11 crash.
At the time of writing, the altcoin was trading at $0.5339, with modest recovery within the current shaky market conditions. However, will this sentiment continue for the rest of the month?
XRP Concludes April On A Bullish Note
Changelly, in its latest prediction, revealed that XRP is anticipated to witness a double-digit growth. The asset is predicted to hit a high of $0.656043 by the end of April. This further reflects a significant 26% jump from its current trading price.
The Legal Tangle
Amidst the market dynamics, Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission [SEC] adds another layer of complexity and anticipation. Ripple is currently set to file a summary judgment on the issue of the remedy by April 22. The outcome is bound to have a significant impact on how the case unfolds.
The crypto enthusiasts have been eagerly waiting to see how the case shapes up. Alongside, the sale of XRP to non-U.S. institutional investors also comes into play. The company’s success in proving that post-complaint sales were primarily to non-U.S. entities could swing the verdict in their favor, possibly leading to a landmark judgment and settling the regulatory uncertainty.
