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Ripple Plans to Reenter the US Market, Potentially Triggering XRP Price Recovery

Ripple CEO Clarifies Company's Plans in the US Market




Ripple's CEO, Monica Long, clarified in an interview with CNBC that Ripple is prepared to make a comeback in the US market. This development comes after Judge Analisa Torres made a ruling announcing a partial victory for the payment remittance company against the US Securities and Exchange Commission (SEC).




Despite speculation that the ruling would face challenges following the SEC's lawsuit update against Terraform Labs, Ripple still intends to re-engage with the US market and its major participants.




Ripple executives acknowledge that the company is expanding internationally in jurisdictions with clear regulations, such as the UK, Europe, Singapore, Dubai, and the Middle East. These jurisdictions provide a clear framework and guidance for payment remittance companies, making Ripple's operations and expansion relatively easier.




XRP Price Decline Awaits Catalyst for Recovery




Since July 13th, XRP's price has been on a continuous decline from its high point of $0.93. At the time of writing, XRP has retraced to the support level of $0.67, marking a decrease of nearly 30%. The cryptocurrency is waiting for a bullish catalyst to trigger a recovery.






XRP Daily Chart, Source: TradingView.




If there is an increase in XRP adoption and utility, along with broader use cases for the XRP Ledger blockchain, the price of XRP could potentially recover. The plans for reentering the US market may serve as a catalyst for a price increase in the native token of the XRP Ledger. However, any rebound is likely to face resistance around $0.85, which could attract selling pressure.




However, if there continues to be a lack of positive news support and combined with a general cryptocurrency market price correction, XRP may likely fall below the support level of $0.67, seeking the next support points at $0.55/$0.52.




FAQs on the SEC vs. Ripple Lawsuit




Is XRP considered a security?

According to the court ruling issued on July 14th, XRP is deemed a security for institutional investors or over-the-counter trading. However, for retail investors purchasing tokens through exchanges, on-demand liquidity services, and other platforms, XRP is not considered a security.




What impact does this ruling have on the entire crypto industry?

Ripple's victory in not being viewed as a security in programmatic sales could be a positive sign for the broader crypto industry.




Nevertheless, the ruling does not provide significant clarity on the crucial question of whether digital assets qualify as securities, so it remains unclear if this lawsuit will set a precedent for other pending cases involving dozens of digital assets. Topics such as what level of decentralization avoids the "security" label or drawing a line between institutional sales and programmatic sales may continue to persist.




Can the court's ruling be overturned?

The court's ruling is a partial summary judgment, allowing an appeal before the final judgment. The case is currently in the pretrial phase, and there is still an opportunity for Ripple and the SEC to reach a settlement.




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