The XRP cryptocurrency, affiliated with Ripple, is currently experiencing its ninth consecutive month of decline against Bitcoin. It is down 72% against Bitcoin since Ripple won a partial legal victory against the U.S. Securities and Exchange Commission in July. XRP’s peak was in May 2017 at 0.00025 BTC, but it has since dropped by 97%. Despite a brief price rally after the legal victory, XRP’s price has not seen significant gains. Ripple’s lawyer mentioned that XRP is the only cryptocurrency besides Bitcoin with regulatory clarity in the US. However, Ripple is still facing legal issues as the SEC is seeking a $2 billion fine for violating securities offering rules. Ripple is trying to reduce the fine to $10 million by arguing that they were actively engaging with regulators. The outcome of the case will likely impact XRP’s price, but as of now, the token’s regulatory clarity has not led to substantial price increases.
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