Ripple Labs' recent legal victory against the Securities and Exchange Commission (SEC) did not have the desired effect on the price of XRP. Despite this favorable decision, the crypto remains in difficulty on the market.
A mixed victory for Ripple
On June 13, a California court ruled in favor of Ripple in its dispute with the SEC. The judge ruled that the company had not violated securities laws, rejecting the regulator's main allegations. This decision follows a long legal standoff that began in 2020.
However, this victory is only partial. A minor allegation will be investigated subsequent trial. In addition, the two parties still disagree on the amount of a possible fine. The SEC is now demanding $102.6 million, far from the $2 billion initially requested. Ripple, for its part, offers a maximum of 10 million.
An XRP price which stagnates despite everything
Contrary to expectations, this favorable decision did not cause a significant rise in XRP. On the contrary, the crypto shows a drop of 3.55% over the last 24 hours, trading around $0.47. Even more worrying, XRP remains far from its all-time high of $3.8 reached in 2018, falling by almost 88%.
This disappointing performance is part of a broader context of stagnation. Since the beginning of June, XRP has lost 4.52% of its value, underperforming other major cryptos. These figures illustrate the difficulty of XRP capitalizing on positive developments, particularly regulatory ones.
The trajectory of XRP once again demonstrates the unpredictability of the crypto market. Even seemingly positive news does not guarantee renewed investor interest. In a constantly evolving sector, XRP will undoubtedly have to find new catalysts to regain its former attractiveness.
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