The Trial that Defined an Industry
Since December 2020, Ripple has been fighting a legal battle against the SEC, which accused the company of selling XRP as an unregistered security. This case has not only been a struggle for Ripple's survival but also a turning point for the entire cryptocurrency industry. Why? Because the final decision could set a legal precedent on how digital assets are regulated in the United States.
Recently, the courts have issued partial rulings that have been interpreted as victories for Ripple. In July 2023, a judge determined that the sale of XRP on exchanges did not constitute a securities offering, which triggered an immediate rally in the token's price. However, the SEC has not backed down and has appealed the decision, keeping the uncertainty in the air.
The Price of XRP: A Roller Coaster of Emotions**
The price of XRP has been a direct reflection of the ups and downs of the legal case. Following the favorable ruling in 2023, the token experienced a 120% increase in just 24 hours**, reaching levels not seen since 2018. However, the SEC's appeal halted the momentum, and the price has fluctuated between euphoria and fear since then.
In recent weeks, rumors of a possible settlement between Ripple and the SEC have brought XRP back into the spotlight. If a settlement is reached, many analysts predict that the token could skyrocket, even surpassing its all-time high of **$3.84**, reached in January 2018.