Sean McBride is confident that the price of XRP will change after Southern District of New York Judge Analisa Torres makes a final decision on Ripple's litigation with the American regulatory agency. Anyone who expects something different is greatly mistaken, McBride wrote on the social network X.
The US Securities and Exchange Commission (SEC) accused Ripple of conducting an unregistered ICO back in 2020, claiming that XRP was an investment contract. In July 2023, Judge Torres, who was leading the proceedings, ruled that the resale of XRP on cryptocurrency exchanges has nothing to do with the sale of securities. As for the initial sales of XRP to institutional investors, the litigation on this issue is not yet over.
After the news of Ripple’s partial victory over the SEC, the XRP rate rose to $0.93. However, a year later, XRP has lost half its value - the coin is now trading at $0.48. And this despite the bullish trend of the crypto market.
The former director of Ripple believes that the emergence of clear legislation on the regulation of cryptocurrencies in the United States should have a positive impact on the XRP rate, especially if Donald Trump wins the presidential election. Thanks to the emergence of more lenient cryptocurrency laws, American companies will be able to cooperate with Ripple and use XRP. McBride noted Ripple's efforts to obtain more than 40 money transfer licenses (MTLs) needed to operate in the United States.
Recently, Ripple CEO Brad Garlinghouse expressed confidence that exchange-traded funds (ETFs) linked to the XRP cryptocurrency will inevitably appear on the market soon.
