Uncertain SEC Ruling on XRP
The US Securities and Exchange Commission (SEC) has filed a lawsuit against cryptocurrency exchange Kraken, drawing attention to the exclusion of XRP from a list of cryptocurrencies it has classified as securities in the recent filing. The action has sparked speculation in the crypto community about a potential victory for XRP, given the regulator’s decision to not categorize XRP as a security. This omission is seen as a significant development, especially following Judge Analisa Torres’ ruling earlier in July.
Exclusion’s Impact on XRP Price
Despite the exclusion from the SEC’s securities list, the price of XRP has been stagnant, trading down by 2.22% at $0.6139 according to CoinMarketCap. The slow price movement has disappointed XRP community members who hoped for a positive change in XRP’s value following the exclusion. Bill Morgan highlighted this declining state on X (formerly Twitter) and published a chart of the current value of XRP.
Hot Take: XRP Under the SEC’s Lens
The exclusion of XRP from the SEC’s securities list has led to speculation and debate in the crypto community. Many are hopeful that this could be indicative of a potential victory for XRP in its ongoing lawsuit against the SEC. However, the impact on XRP’s price following the exclusion is seen as a disappointment, highlighting larger uncertainties surrounding the crypto’s future amidst regulatory scrutiny.
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