A significant court decision by the U.S. Securities and Exchanges Commission (SEC) was given to Ripple Labs in July. Investors rejoiced over the victory over the SEC and its purported validity in U.S. markets as soon as they heard the good news, sending the price of XRP soaring. However, the overall crypto market is beginning to exhibit gloomy sentiment.
XRP's price has been on a downward trend even after Judge Torres ruled in favor of Ripple Labs, declaring that XRP is not a security.
XRP's price increased by 70% on July 14, reaching $.80. However, within 30 days, it dropped to $.55 (-24.13%). The cryptocurrency market is recovering from a micro-crash, but concerns persist due to potential bullish phases during a down market. Investors are delaying purchases until conditions improve.
XRP's price has been on a downward trend even after Judge Torres ruled in favor of Ripple Labs, declaring that XRP is not a security.
XRP's price increased by 70% on July 14, reaching $.80. However, within 30 days, it dropped to $.55 (-24.13%). The cryptocurrency market is recovering from a micro-crash, but concerns persist due to potential bullish phases during a down market. Investors are delaying purchases until conditions improve.
