XRP’s price remains stagnant, eagerly awaiting Judge Torres’ decision and clear US cryptocurrency regulations. The market must exercise patience as XRP’s future relies heavily on legal rulings and potential institutional involvement.
A curious user recently questioned former Ripple executive Sean McBride about the declining value of XRP despite positive news surrounding the cryptocurrency. According to McBride, significant price movements are unlikely until Judge Torres makes her decision. He emphasized the importance of explicit US legislation, which could be forthcoming given recent developments in Congress and Trump’s interest in utilizing cryptocurrency if elected president.
McBride reiterated that until Judge Torres delivers her ruling, there will be no significant changes in XRP’s price. He also hinted that more information about behind-the-scenes activities will surface after the ruling, potentially paving the way for US institutions to collaborate with Ripple. McBride urged patience, suggesting that observers wait to see how the situation unfolds.
He also questioned the rationale behind Ripple’s pursuit of numerous money transmitter licenses in the US without a clear overarching strategy. The anticipation surrounding Judge Torres’ ruling continues to build, with stakeholders eagerly awaiting the outcome of the motion to seal.
In a previous ruling on July 13, 2023, Judge Torres declared that XRP is not a security, a victory for Ripple and XRP. However, the market response was muted due to ongoing uncertainty and the need for specific legislative changes in the US. Current CoinMarketCap data shows XRP trading at around $0.4815, with a slight drop over the past 24 hours and a bearish trend over the past week.
McBride’s recent comments underscore the key factors influencing XRP’s price, emphasizing the importance of waiting for Judge Torres’ ruling and potential legislative actions from Congress. As the market remains in a holding pattern, Ripple’s strategic focus on long-term growth and stability is evident through its acquisition strategy and commitment to ongoing development.
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