XRP coins gained attention from various parts of the world after being sued by the United States (US) Securities and Exchange Commission (SEC) in December 2020.
However, the attention is getting gloomy when the case shows no sign of ending.
XRP's recent performance has been very worrying, moreover XRP has touched the $ 0.646 level again yesterday, which was last seen on February 24th.
What happen?
In a weekend partnership, Ripple’s general adviser-Stuart Alderoty expects the SEC lawsuit against Ripple to be pending again, expected to be completed by 2023 at the latest.
It now looks like a resolution will come in 2023 - and each day that passes is hurting US citizens who were essentially the victims of a rug pull by the SEC. $ 15B in XRP market cap was destroyed the day the suit was filed, hurting the very people the SEC purports to protect.
- Stuart Alderoty (@s_alderoty) April 22, 2022
His statement was in stark contrast to allegations by Ripple CEO Brad Garlinghouse last year that he was convinced the case had almost reached a decision as early as this year.
Unexpectedly, Alderoty’s statement and the volatile crypto market deck of macroeconomic changes have shattered the hopes of XRP investors once again.
Not surprisingly, XRP is down nearly 18% from $ 0.79 (April 19) to $ 0.64 (April 25).
At the time of writing, the asset posted a slight increase, trading at $ 0.697 with a jump of over 2% in 24 hours.
Analysts argue that if the XRP fails to continue to rise in price, investors will need to be prepared to face higher volatility.
At this point, there may be a handful of investors who think it’s time to add more holdings. While there are those who believe there is no more hope for XRP.
In any case, before taking any action, make sure investors make decisions that are not based on greed.
