Buckle up, XRP fans: Analysts are looking higher and the price will reach USD 0.65 in the next 5 days

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The price of XRP, Ripple’s native token, has been the topic of much discussion lately. While some analysts are predicting a significant price jump this weekend, others remain cautious due to the coin’s recent struggles and the ongoing legal battle between Ripple and the SEC.

Stuck at the starting line: XRP’s latest performance

XRP is stuck in a low gear and has failed to break the $0.54 resistance level for weeks. This slowdown extends over a broader time frame, with the coin seeing a decline over the past month, week, and even the past 24 hours.

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At the time of writing, XRP was quoted at USD 0.5185, dropped 3.8% in the last 24 hours, but managed to post a paltry 0.4% gain in the last week, according to Coingecko data.

Weekend surge on the horizon?

Coincodex, the leading cryptocurrency forecasting platform, stands out from the crowd bullish forecast. They anticipate a significant augment in the price of XRP, with the coin potentially reaching $0.648 by Tuesday, May 21. This would represent a jump of over 32% from the current price.

XRP has been seen hitting high notes. Source: CoinCodex

However, even Coincodex acknowledges the potential for a different scenario. The report mentions the possibility of consolidation around USD 0.4952 or even a price decline if profit-taking intensifies.

Legal clouds dampen enthusiasm

Many experts believe that the ongoing lawsuit between Ripple and the SEC is a significant factor behind XRP’s needy performance. The SEC maintains that XRP is a security, while Ripple maintains that it is a currency. This legal battle has cast a shadow over the cryptocurrency, leading to investor hesitancy.

XRP is currently trading at $0.51. Chart: TradingView

There is, however, a ray of hope. The article reported that the lawsuit is winding down and that a final ruling by Judge Analisa Torres is expected later this year. The final solution, especially if it favors Ripple, could pave the way for significant price increases in the future. Some analysts, as mentioned in the report, even predict that XRP could rise to $47 during the next bull market.

XRP greed index at 70. Source: CoinCodex

Weighing bullish and bearish signs

The future of XRP remains uncertain. Coincodex’s forecasts offer a glimmer of optimism in the face of a short-term price spike. However, the recent price decline, ongoing legal battle and cautious investor sentiment paint a more sophisticated picture.

Looking Ahead: Future of XRP After Lawsuit?

The resolution of the SEC lawsuit could be a turning point for XRP. If Ripple prevails, it could remove a major obstacle to wider adoption and institutional investment. This, combined with a potential bull market in the broader cryptocurrency market, could take XRP to modern heights.

However, even a favorable result does not guarantee glossy sailing. The cryptocurrency market remains volatile, and XRP faces competition from other established players.

Featured image from Pexels, chart from TradingView

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