As the XRP lawsuit between Ripple Labs and the US Securities and Exchange Commission (SEC) inches closer to a ruling on remedies – the final ruling on district court level – the crypto community is abuzz with speculation about the potential repercussions for the XRP price. Notably, Rachelle Renee, a popular crypto pundit, has voiced a dissenting perspective via X, arguing that the forthcoming Ripple-SEC ruling will not significantly impact the price of XRP, contrary to the expectations of many investors.
How Will The XRP Price React?
Renee’s analysis starts with a sobering view on the nature of the legal resolution itself, which will penalize Ripple. “It is simply the details on how Ripple will be punished for the few minor indiscretions committed,” Renee explained.
She expressed skepticism about the potential for this legal closure to serve as a catalyst for a substantial price increase of XRP. According to Renee, the pivotal moment for a possible price surge was when regulatory clarity was initially provided by Judge Torres in July last year, a milestone that has already been passed without a long lasting effect. “The point at which clarity was decided would have been the time to see it move upward in a big way. It did not,” Renee stated.
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She further elucidated that institutional investors, who might be considered a primary driver for such a surge, only required confirmation that it was legally permissible to buy, hold, and utilize XRP. This clearance has already been granted. Therefore, the details of how Ripple might be reprimanded for early sales of XRP are unlikely to sway their investment strategies: “Institutions only needed to hear it was legal now to buy, hold and use. That happened. They do not need to hear or if #ripple will be punished for a few early sales of XRP.”
Renee concluded, “I hate to be the one to say it. But I do not think the final Ripple/SEC/Torres event will do anything for the price of XRP. The institutions that might drive a significant price increase already know it’s legal to engage with XRP, and the specifics of Ripple’s punishment are unlikely to influence their decisions further.”
She further conceded that while a minor uptick in the XRP price could occur following the resolution, she firmly believes that “this will not be the moon shot” many are hoping for. Instead, Renee suggested that significant market movements for XRP would more likely result from…
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