According to U.Today, the XRP cryptocurrency, affiliated with Ripple, is set to mark its ninth consecutive month of decline against Bitcoin. Since Ripple's partial legal victory against the U.S. Securities and Exchange Commission (SEC) in July, XRP has fallen 72% against Bitcoin. The token's all-time high was 0.00025 BTC in May 2017, but it has since plummeted 97% from that peak.
In a case last year, U.S. District Court Judge Analisa Torres partially sided with Ripple, ruling that the secondary sales of XRP did not constitute a securities offering. This decision led to a significant but short-lived rally in XRP's price. Ripple's top lawyer, Stuart Alderoty, has highlighted XRP's unique status in the U.S., as it is one of the few cryptocurrencies with regulatory clarity, alongside Bitcoin.
However, Ripple is not yet in the clear. Judge Torres also ruled that Ripple had violated securities laws with its institutional XRP sales. The SEC is seeking a $2 billion fine from Ripple, but the company is arguing for a reduction to $10 million. Ripple maintains that it did not recklessly disregard securities laws, as it was actively engaging with U.S. regulators.
The impact of future developments in the Ripple case on the XRP price remains uncertain. So far, the token's regulatory clarity has not resulted in any significant price gains.