XRP’s price remains stagnant as the crypto community eagerly anticipates Judge Torres’ decision and clarity on US legislation.
Market participants must exercise patience as XRP’s future is closely tied to legal outcomes and potential partnerships with institutional investors.
In a recent exchange on X, former Ripple executive Sean McBride addressed concerns about XRP’s declining value despite positive news surrounding the cryptocurrency. McBride emphasized that significant price movements are unlikely until Judge Torres delivers her verdict. He also highlighted the importance of clear US regulations, which could be imminent given recent developments in Congress and President Trump’s interest in cryptocurrency.
McBride reiterated that until Judge Torres’ ruling, there will be little movement in XRP’s price. He urged observers to wait for further clarity on the legal front, which could pave the way for collaboration between Ripple and US institutions.
Questioning the rationale behind Ripple’s extensive application for money transmitter licenses in the US, McBride underscored the need for a comprehensive strategy in the absence of a larger plan.
The crypto community is eagerly anticipating Judge Torres’ ruling following the motion to seal. The outcome of this decision will have significant implications for XRP and its standing as a security, as determined by the SEC.
Despite Judge Torres’ previous ruling that XRP is not a security, the market response was muted due to ongoing uncertainty and the anticipation of further regulatory developments in the US.
As of the latest CoinMarketCap data, XRP is valued at approximately $0.4815, reflecting a 0.63% decrease in the past 24 hours and an 8.84% decline over the previous week.
McBride’s comments underscore the key factors influencing XRP’s price, emphasizing the importance of Judge Torres’ ruling and legislative action from Congress. The market remains in a state of anticipation as stakeholders await further clarity on these critical issues.
