XRP Takes A 16% Hit In SEC Lawsuit Drama, But Analysts See Hope

With about 16% of its value lost in October 2024 alone, XRP, the native coin of Ripple, has been under heavy assault this month. The US Securities and Exchange Commission’s (SEC) fresh appeal in its continuous action against Ripple is driving the price drop. Investors are left wondering about XRP’s future as the legal question of whether it qualifies as a security looms over the token like a dark cloud.

Hope is mixed with skepticism, as some analysts are nearly optimistic about recovery, considering the dire forecast. Indeed, there have been whale activities identified through recent data from the Whale Alert platform, monitoring large cryptos transfers.