- XRP price stagnates, awaiting the decision of Judge Torres and clear US cryptocurrency legislation.
- Markets need to be patient as XRP’s success depends on future legal and institutional decisions.
Recently, a user of X asked a question that was urgent to former Ripple Sean McBride Executive: Why does XRP value continue to fall despite recent good news?
You can also read about the following: to McBride, XRP’s price will not change much until the Judge Torres issues her verdict. He said that anyone who expects anything else is insane. It is important to have a US law that will be enforced, and this may soon happen given the current situation in Congress.
This is something I have probably said before. The price of XRP will not change until the Judge Torres’ decision is made. Anyone expecting otherwise is deluded. Next, we need clear US legislation. Hopefully that is on the way…
— Sean McBride (@seanmcbride16) June 11, 2024
McBride said that after Judge Torres makes her decision, it will be clearer what’s going on in the background. This could allow US institutions access to the data. “flip the switch” Ripple and work together. He told us that it was up to the rest of us to observe if this happens.
In the absence of any larger plan, he questioned, Ripple It is unlikely that most of the MTLs required for conducting payments in America, numbering in the hundreds.
There is a lot of anticipation surrounding Judge Torres’s decision
The crypto community awaits Judge Torres with great anticipation seal rulingThis will be the next step after the seal motion. All parties, both plaintiff and defendant included, have eagerly awaited this ruling.
The SEC made a claim that XRP was a security. On the 13th of July 2023, Torres ruled that XRP wasn’t – and thus resolved it. Although this was a huge win for Ripple/XRP, market reaction was muted due to continued ambiguity in US law and waiting for specific changes.
CoinMarketCap data shows that at the time of writing, XRP was valued at approximately $0.4815. This is the same as. 0.63Drop in % over the past 24 hours 8.84% The previous 7 days have seen a bearish trend.
Sean McBride was reportedly a former member of the band. urged Ripple CNF reported that Ripple would pursue an acquisitions strategy and emphasize the importance of continuing development and investment. Ripple has made a calculated decision to show its commitment to stability and long-term growth in an uncertain market.
McBride clarified in his remarks the major factors affecting XRP’s price. Markets are in a hold pattern as they await Judge Torres’ final decision and legislative action by the US Congress.
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Source: www.crypto-news-flash.com
