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

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.

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.