XRP has seen a significant decline in price, dropping 7% as legal proceedings continue in the case against Ripple by the SEC. The latest development involved Ripple's Supplemental Letter in support of a motion for an indicative ruling. Legal expert Marc Fagel commented on the new filing, stating that it appears to lack substantive value, describing it as an attempt by Ripple to reassure uncertain supporters in the crypto community. Fagel remarked, "It reads more like 'some lawyers on Crypto Twitter are dubious of our joint submission so we just want to be a little more emphatic.'" This skepticism from experts is contributing to bearish sentiment surrounding XRP, prompting many investors to reassess their positions.
The SEC lawsuit has been a significant factor influencing XRP's market performance since its onset, leading to heightened volatility. As the legal battle unfolds, Ripple's ability to regain investor confidence remains uncertain, especially in light of expert critiques of their recent filings.
The SEC lawsuit has been a significant factor influencing XRP's market performance since its onset, leading to heightened volatility. As the legal battle unfolds, Ripple's ability to regain investor confidence remains uncertain, especially in light of expert critiques of their recent filings.
