As the XRP lawsuit between Ripple Labs and the US Securities and Exchange Commission (SEC) nears a resolution, the crypto community is speculating on how this will impact the price of XRP. Crypto pundit Rachelle Renee has shared her perspective, suggesting that the Ripple-SEC ruling may not have a significant effect on the price of XRP as many investors expect.
Renee believes that the details of how Ripple will be penalized are unlikely to cause a substantial price increase for XRP. She points out that regulatory clarity was established over a year ago, and institutional investors already have the green light to buy, hold, and use XRP. Therefore, the specifics of Ripple’s punishment are unlikely to sway their investment decisions.
While some, like Bas van Gestel, are optimistic that the end of the Ripple-SEC case could lead to a surge in XRP price due to enhanced regulatory clarity and institutional adoption, Renee remains cautious. She questions why major announcements and institutional adoption have not yet materialized if they are expected to drive up the price of XRP.
Renee anticipates that significant market movements for XRP will likely stem from new developments that showcase the utility and adoption of XRP by major global players like banks and financial institutions, rather than the final Ripple-SEC ruling.
At the time of writing, XRP was trading at $0.5632, and the community continues to watch for developments in the Ripple-SEC case and their potential impact on the price of XRP. The crypto market remains dynamic, and investors are advised to conduct their own research and make informed decisions when considering investments in XRP or any other digital asset.