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Crypto: XRP Falls Despite Ripple's Triumph Over the SEC

Mon 24 Jun 2024 ▪ 3 min of reading ▪ by Fenelon L.
Getting informed Altcoins

The recent legal victory of Ripple Labs against the Securities and Exchange Commission (SEC) did not have the expected effect on the price of XRP. Despite this favorable decision, the crypto remains in difficulty in the market.

Ripple devant le tribunal pour une affaire crypto

A Pyrrhic victory for Ripple

On June 13, a California court sided with Ripple in its dispute with the SEC. The judge ruled that the company had not violated securities laws, thus dismissing the main allegations of the regulatory authority. This decision follows a long legal battle started in 2020.

However, this victory is only partial. A minor allegation will be the subject of a subsequent trial. In addition, the two parties still disagree on the amount of a potential fine. The SEC is now demanding $102.6 million, far from the $2 billion initially requested. Ripple, on the other hand, offers a maximum of $10 million.

A stagnant XRP price despite everything

Contrary to expectations, this favorable decision did not trigger a significant increase in XRP. On the contrary, the crypto shows a decline of 3.55% over the past 24 hours, trading around $0.47. Even more worryingly, XRP remains far from its all-time high of $3.8 reached in 2018, down nearly 88%.

This disappointing performance follows a broader context of stagnation. Since the beginning of June, XRP has lost 4.52% of its value, underperforming compared to other major cryptos. These figures illustrate the difficulty of XRP in capitalizing on positive developments, particularly regulatory ones.

XRP’s trajectory once again demonstrates the unpredictability of the crypto market. Even seemingly positive news does not guarantee a renewed interest from investors. In a constantly evolving sector, XRP will likely need to find new catalysts to regain its former attractiveness.

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Fenelon L. avatar
Fenelon L.

Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.