XRP dipped 3% on Thursday, reacting to the news that Ripple’s co-founder missed a key deadline in the ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). The latest development in the high-profile lawsuit has sparked concerns among investors, contributing to the cryptocurrency’s sharp decline.
The case, which has been a significant overhang for Ripple and XRP, revolves around the SEC’s claim that Ripple violated securities laws by selling XRP without registering it as a security. With the missed deadline, investors are left uncertain about the potential consequences for Ripple and the broader crypto market.
XRP’s recent price action highlights the ongoing legal risk associated with the cryptocurrency, as market participants remain sensitive to any negative news from the lawsuit. While Ripple has maintained its stance that XRP should not be classified as a security, the case has dragged on, creating volatility for the token.
Source – FXStreet
Despite this setback, XRP retains strong support from its community and ongoing partnerships in the financial sector. However, the legal uncertainty continues to cast a shadow over the coin’s prospects, and the market will be closely watching for the next developments in the SEC lawsuit. For now, XRP remains under pressure, with the missed deadline further complicating the company’s legal strategy.
