The spooky season is right around the corner. Prepping for the same, the cryptocurrency market was painted red today. Sadly, Ripple’s XRP took the biggest hit. According to data from CoinMarketCap, the altcoin witnessed a 3.41% drop over the past 24 hours.
The asset went from a high of $0.548 to a low of $0.528. In addition, the network’s trading volume reached $1.21 billion. However, XRP has witnessed a 7% drop. Sadly, this rise in volume was due to the increased sell-off of $203 million in the cryptocurrency market.
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Is Revival on the Cards for XRP?
Despite this price drop, a notable percentage of the XRP community members were bullish about the altcoin. According to data from CoinMarketCap, out of the 47257 votes, 85% were expecting a rise in the altcoin’s price. About 15% of the community was bearish.
In addition, October is considered a bullish month for the cryptocurrency market. As a result, XRP investors were expecting a surge in the altcoin price sooner rather than later.
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Halloween Prediction
Several assets are expected to witness a rise towards the latter part of this month. According to CoinCodex, XRP will trade at a much higher price towards the end of the month around Halloween.
Leading cryptocurrency tracking website, CoinCodex has used its self-learning machine algorithm to unravel XRP’s mysterious future. The altcoin will be priced at $0.6647 on October 31, 2024, a significant uptick from its current price level.
Despite this potential surge, the altcoin will remain quite a distance from its all-time high of $3.84. XRP surged to this peak back in 2018, about seven years ago. Investors must wait longer to expect a rise towards its all-time high.
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The asset has moved slower compared to the rest due to its legal proceedings with the Securities and Exchange Commission (SEC) of the United States.
