Sean McBride, a former executive at Ripple, shared his thoughts on why the price of XRP may remain relatively stable in the near future.
The lackluster performance of XRP has been a consistent topic of conversation. While other assets experience surges during bullish market periods, XRP tends to remain stagnant. Even during market corrections, XRP does not seem to be immune to price fluctuations.
Despite recent positive developments related to XRP, the asset has not shown any significant reaction to these events, causing concern among members of the community.
In a recent exchange, a user named Johnny Ramos questioned McBride about the reasons behind XRP’s price decline despite positive news. In response, McBride emphasized his belief that XRP’s value will not see any substantial changes until a final ruling is issued in the SEC vs. Ripple case by U.S. District Court Judge Analisa Torres. He stated that until this legal dispute is resolved, significant movements in XRP’s value are unlikely to occur.
McBride further added that the resolution of the ongoing legal battle could potentially lead to a notable increase in XRP’s price. He mentioned that once Judge Torres makes a decision, more information about the situation behind the scenes will be revealed. This ruling could open the door for U.S. institutions to collaborate with Ripple and potentially boost XRP’s value.
Additionally, McBride highlighted Ripple’s efforts to secure over 30 Money Transmitter Licenses (MTLs) required for operations in the U.S. He indicated that these extensive preparations signify Ripple’s commitment to the market.
When asked about the possibility of the SEC appealing a favorable decision for Ripple, McBride expressed confidence that a positive outcome for Ripple would set the stage for significant progress, regardless of any potential appeals.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The opinions expressed in this piece are solely those of the author and do not necessarily reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic shall not be held responsible for any financial losses incurred.