The SEC is a huge agent against crypto, they are not hiding it, I think they are against the decentralization nature of crypto and just want to crack it down. At least that is what their actions have shown lately. The case of ripple labs against the SEC and XRP being a security or not was on for more than two years costing ripple labs a lot of money for legal fees and also creating market sentiment that led to a lot of people shorting XRP. Sometimes I wonder, what would be the current price of XRP if the SEC didn’t come for ripple in 2020. Just may be we might have seen XRP reach its bull or all time high potential.
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After numerous court cases and argument, the judge ruled XRP not a security, which was a big win for the XRP army and the crypto community. The value of XRP pumped, but with time we have seen the price value decline. Should XRP investors and army be relaxed right now since the judge has ruled it not a security?
The SEC can still appeal the judge’s decision and take the issue to court again. This is possible and will lead to another rollercoaster of XRP uncertainty, putting the investors and XRP army into another indefinite period of waiting for another legal decision. As usual, if this should happen again, the value of XRP will go down again, investors will lose money. There will be huge pressure on XRP and people might just get uninterested in XRP and probably leave the asset, focus their money on some other asset for some peace of mind.
Before ripple labs got sued by SEC, there was no string fundamental basis pumping the price of XRP hence the reason a lot of people regarded XRP to be a shitcoin. Aside retail buying of XRP what other means do you think the value of XRP will depend on. XRP has been criticized for being a crypto for the bank, it is known for its fast payment method, the aim of ripple lab is to provide a seamless method for transaction. Ripple labs might be free from SEC for now, but what is the guarantee that they won’t come fighting again?