Ripple’s XRP has been making headlines due to its legal battle with the Securities and Exchange Commission (SEC). The asset’s weekly streak took a hit as it dipped by nearly 2% over the past 24 hours. At press time, the altcoin was trading at $0.5442 after it dropped from a high of $0.5537.
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In addition, XRP’s trading volume has decreased by 19.46% throughout this period to around $1.14 billion. This sharp decline in volume indicates that there is little trading activity and that the market is experiencing negative sentiment.
This drop in price comes during a major transfer. An XRP whale moved over 28 million tokens from their secret wallet to Bitso, a cryptocurrency trading company, according to Whale Alert. Based on the price of XRP at the time of the transaction, these tokens are projected to be valued at around $15 million.
Despite this, it should be noted that October is a bullish month. As a result, the community expects Ripple’s XRP to witness a rise in the coming weeks.
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XRP Price Prediction
It looks like the altcoin will end the month on a great note. According to data from Changelly, XRP will witness a major uptick in the coming days. On October 25, the asset will see a double-digit rise. The price prediction firm noted that the altcoin will surge to a high of $0.705131. This translates to a nearly 30% spike from its current price level.
This rise could further put a huge number of investors at a profit. But, the complications in its legal battle against the SEC could disrupt XRP’s streak and impact its price.
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