As April draws to a close, individuals passionate about digital currencies find themselves on the edge of excitement. Ripple [XRP], in particular, has experienced a tumultuous journey this month. Nevertheless, it appears to be on the cusp of a significant upturn driven by both market forces and legal developments.

After a period of consolidation ranging between \(0.46 and \)0.50, XRP saw a bullish resurgence. The cryptocurrency gained momentum and surged by 25% from the lows witnessed during the crash on April 11th. Currently, it is trading at $0.5339, showing a modest recovery amidst the prevailing market volatility. The question remains: will this positive momentum continue throughout the remainder of the month?

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Further Reading: Cryptocurrency: 3 Alternative Coins With Potential for Bullish Returns Compared to XRP

Optimistic Outlook for XRP by Month-end

According to the latest forecast by Changelly, XRP is anticipated to experience a double-digit surge. The prediction suggests that the cryptocurrency could reach as high as 0.656043 by the end of April, signifying a substantial 26% increase from its current value.

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Legal Challenges

In addition to market factors, Ripple’s ongoing legal dispute with the U.S. Securities and Exchange Commission [SEC] introduces another layer of complexity and anticipation. Ripple is preparing to submit its opposition brief related to the remedy on April 22. The outcome of this filing is expected to significantly influence the trajectory of the case.

The crypto community is eagerly anticipating the unfolding of this legal battle. Furthermore, the sales of XRP to non-U.S. institutional investors play a crucial role. Ripple’s ability to demonstrate that the sales post the complaint were primarily targeted at non-U.S. entities could sway the ruling in its favor. This could potentially result in a penalty related to the token and address existing regulatory uncertainties.

Dig Deeper: Ripple (XRP) CEO Acknowledges Underestimating the $5 Trillion Crypto Market