A lot of fuss surrounds whether or not XRP traders will face the consequences because of the SEC’s lawsuit against Ripple. Ripple representatives have advised traders not to grow alarmed because of the developer’s legal status. However, XRP dropped thirty-one percent in value since the Securities and Exchange Commission’s lawsuit was filed. While XRP bounced back nearly twenty-three percent since the decline in value, XRP traders more nervous than ever. Several financial experts believe that XRP is doomed to fail because of the pending lawsuit. Starting on January 4th, most cryptocurrency trading platforms will entirely delist XRP trades.
Finance officials conclude that XRP will falter if Ripple cannot raise sufficient funds by selling XRP tokens. If Ripple’s other products also fail to launch, XRP will not just diminish in value, but it might disappear entirely. Ripple’s operators still feel that XRP will continue to flourish regardless of Ripple Labs’ situation because XRP is an independent action. The future for XRP trades presently remains unclear, but new information is expected to unfold as time progresses.
XRP reached all-time highs in November 2020, but the token’s value has dropped by as much as seventy-five percent since then. XRP tokens face high risks as Ripple battles against allegations brought forth by the SEC. Cryptocurrency experts suggest that Ripple can continue with XRP tokens if they remove operations within the United States. XRP has the potential to remain viable as a digital currency if it continues to separate itself from Ripple as much as possible.