Although XRP, the seventh-largest cryptocurrency by market capitalization, has suffered a blow from the litigation against Ripple dragging on, the crypto community is bullish on the digital asset, predicting it will improve its price by the end of May.
As things stand, the CoinMarketCap crypto community is projecting that the XRP token will trade at an average of $0.8188 on May 31, 2022, with 2,028 votes. In particular, the estimated price indicates a $0.1705 or 26.29% increase from the decentralized finance (DeFi) asset’s current value.
Meanwhile, the votes of 1,070 community members for the end of June have established a slightly lower goal than May’s, predicting that XRP will trade at $0.8115 on June 30, which is up by $0.1632 or 25.18% from its price at press time.
Based on the performance of previous projections, the crypto community has historically predicted the month-end price of XRP with an accuracy rate of 77.57%.
XRP price analysis
Currently, XRP is trading at $0.6483, down 0.15% on the day and 14.41% across the previous seven days, according to CoinMarketCap data.
At the time of publication, the total market cap of the token stands at $31.16 billion.
In the meantime, Ripple, the software company independent of XRP but an important player within the XRP ecosystem, is still waging a turbulent legal battle against the United States Securities and Exchange Commission (SEC).
Recently, both parties have agreed to have closing briefs a few days before Christmas, effectively pushing the lawsuit’s end to 2023. As Finbold reported, the blockchain company had previously expected its finalization by the second half of November 2022.
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Source: https://finbold.com/crypto-community-with-77-historical-accuracy-sets-xrp-price-for-may-31-2022/