At the moment, the trading price of Ripple (XRP) is at a low of $0.3435 as the crypto has experienced a 0.11% dip in the past 24 hours.
For now, there is no remarkable or alarming movement in the trading price of XRP. It seems that both sides are waiting for more developments to take place in the Ripple-SEC lawsuit.
For two years, Ripple has waited eagerly to announce its win against the US Securities and Exchange Commission. However, it seems that there is still time before the Ripple/XRP community can do that.
Even after two years, the lawsuit between Ripple and the US SEC lingers as the court is taking its time to make the final call.
XRP Community was excited about Ripple
When the US SEC filed a lawsuit against Ripple in December 2020, it was the lowest blow that was dealt to XRP. It ended up losing the majority of its valuation and trading value.
An asset that was once about to hit a $1 trading value ended up plunging to its lowest levels. Still, the token managed to make it back and it was all thanks to the XRP community’s determination.
They had faith that Ripple was not at fault for offering XRP to the US locals. It did not require any approval from the US SEC because it was not a security in the first place.
However, the US SEC had something else in mind as they were adamant that Ripple had to register XRP before selling it.
Ripple had decided that it will use all its resources to fight against the US SEC and register its win no matter how much time it took.
Whenever the Ripple team was able to win a hearing against the US SEC, the XRP community reacted with strong rallies. For two years, the XRP community has continued with the same strategy.
They were excited about each positive news and kept investing in XRP to keep its price pushed to a higher level.
XRP Community is No Longer Interested
However, as the lawsuit has taken too long to get resolved, they have lost their interest in every development.
The only thing they want to know is whether Ripple has won the case against the US SEC or not.
The latest development in the Ripple case was the judge approving the motion filed by their legal team for a summary judgment.
This indicated that the judge may have decided in favor of Ripple. If the case is won by Ripple, then the traders will start making investments into XRP which may push the trading price of the asset higher.