Why XRP Price Won’t Skyrocket After Ripple-SEC Ruling: Crypto Pundit
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As the Ripple-SEC lawsuit nears its conclusion, the crypto community speculates on its impact on XRP’s price. Pundit Rachelle Renee argues that the ruling will not significantly influence XRP’s price, as regulatory clarity provided last year did not lead to lasting price increases.
Renee contends that institutions required confirmation to buy, hold, and use XRP, which has already been granted. She suggests that the details of Ripple’s punishment for early sales are unlikely to affect institutional investment strategies further.
A minor price uptick may occur following the resolution, but Renee doubts it will lead to a significant rally. Instead, she believes major movements will result from new developments demonstrating XRP’s utility and adoption by major global players like banks and financial institutions.
Contrasting with Renee’s view, Bas van Gestel from the XRP community has a more bullish outlook, predicting a major surge in XRP’s price due to enhanced regulatory clarity. Renee, however, questions the timing and impact of such future announcements, given the lack of significant moves since initial regulatory clarity.
At press time, XRP traded at $0.5632.
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