Ripple’s Cryptocurrency: Examining the 40% Drop in Value and the SEC Win

2023-10-15 14:33:07
The price of Ripple’s cryptocurrency has lost nearly 40% of its value in the past six months. All this after the price showed a serious jump in the summer, when an American federal judge ruled in favor of Ripple Labs in one of the cases that the American Securities and Exchange Commission (SEC) initiated against the company. The court ruled that a digital asset does not qualify as a security for programmed sales. XRP still in the green year-over-year This was a very big win against the SEC, no wonder XRP rose from $0.471 on July 12th to $0.816 on July 13th. Now, at the time of writing, such a coin is worth only $0.486. The SEC, of ​​course, wasn’t too happy about the ruling. SEC chief Gary Gensler expressed disappointment and said the authority would take every opportunity to appeal. However, regardless of this, the price of Ripple’s token could not really maintain the initial momentum. On August 16, one XRP was still 0.588 dollars, by the next day the exchange rate had already dropped to 0.506. This was the biggest drop in 24 hours in the recent period. With this performance, Ripple is considered one of the worst performing cryptocurrencies in mid-October. But this is the more speculative, short-term approach. The price of the token has increased by 43% year-on-year. On the first of January, you only had to pay 0.338 dollars for one XRP, so those who bought then are still in plenty of profit. And long-term hodlers can rest easy. Since the initial issue, the token has already gained 8176%. Published on the BitcoinBázis page.
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#success #SEC #XRP #token #falling