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Crypto Community Sees $XRP Price Explode Upward in September, Data Shows

Analytics

www.cryptoglobe.com 02 September 2022 00:48, UTC
  
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The cryptocurrency community is predicting that the price of $XRP will explode upward to end the month of September at $0.4917, which would mean the cryptocurrency’s price would rise 51.3% from its current $0.324 level.

The figures come from CoinMarketCap’s price estimate feature, which saw over 1,200 users predict the cryptocurrency’s price for the end of the month. Looking at October, the cryptocurrency community expects XRP to trade at $0.412, up around 26.7% from current levels.

Source: CoinMarketCap

Notably, the price of XRP has recently hit a two-week high of $0.37 before dropping to its current level. The high came as the XRP Ledger processed three large transactions worth $51 million and involving large cryptocurrency exchanges Bitso and FTX, as Finbold reports.

As CryptoGlobe reported, the education arm of the world’s largest crypto exchange (by trading volume), Binance Academy, has said the XRP Ledger is the “first major blockchain to be certifiably carbon-neutral.”

In a newly released video, Binance Academy noted that the main application of the ledger is payments, as the XRP Ledger allows assets to be “moved across the world, enabling near instant money transfers for remittances, treasury payments, payrolls, and other cross-border payments.“

The XRP token’s price has been somewhat muted over a lawsuit the U.S. Securities and Exchange Commission (SEC) filed against Ripple and two of its executives alleging they “raised over $1.3 billion through an unregistered, ongoing digital asset securities offering.” It negatively impacted the price of XRP, as after the lawsuit was announced most cryptocurrency exchanges started delisting the token to avoid any repercussions, affecting its liquidity.

Despite the ongoing legal battle, XRP’s price could be benefiting from Ripple’s expansion of its On-Demand Liquidity (ODL) product, which is powered by the XRP token. As reported, Ripple has recently announced that Travalex Bank — a subsidiary of Travelex, which is the world’s largest exchange business specialist — in Brazil has started using its XRP-powered On-Demand Liquidity (ODL) solution.

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Featured Image via Pixabay


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