Uncertain SEC Ruling on XRP
The United States Securities and Exchange Commission (SEC) has filed a lawsuit against digital currency exchange Kraken, drawing attention to the exclusion of XRP from a list of digital currencies it has classified as securities in the recent filing. The action has sparked speculation in the cryptocurrency community about a probable victory for XRP, given the regulator’s decision to not categorize XRP as a security. This omission is seen as a whole lot of development, especially following Judge Analisa Torres’ ruling earlier in July.
Exclusion’s Impact on XRP Price
Regardless of 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 present 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 cryptocurrency community. Numerous are hopeful that this may be indicative of a probable victory for XRP in its ongoing lawsuit against the SEC. Nonetheless, the impact on XRP’s price following the exclusion is seen as a dissatisfaction, highlighting larger uncertainties surrounding the crypto’s future amidst regulatory scrutiny.
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