The cryptocurrency market is presently seeing underperformance for XRP, the digital token linked to Ripple Labs, as the enthusiasm surrounding the recent positive court decision wanes.
The previous seven days have seen a 5.9% fall in XRP, while the last day has seen a 1.5% decline, according to CoinGecko statistics. Following Ripple’s partial victory against the Securities and Exchange Commission (SEC) last month, it saw an amazing 80% rally.
Even with Binance’s legal issues, XRP is still well behind the BNB coin, trading at $0.673.
A favourable court judgement for Ripple in its continuing fight with the SEC last month served as a catalyst for confidence. Yet, the excitement around the verdict seems to be fading as XRP finds it difficult to gain traction in the face of continuing legal complications. Unfazed by the setback from last month, the SEC is allegedly getting ready to appeal the decision, which will further cloud XRP’s future prospects.
U.S. District Judge Jed Rakoff has further soured the mood around XRP by rejecting the strategy employed in the previous month’s decision in the SEC’s lawsuit against Ripple Labs.
A disappointing Bitstamp announcement
The cryptocurrency community’s excitement over Bitstamp’s significant XRP announcement has ended in widespread disappointment, as reported by U.Today.
Today, the top European digital asset exchange made a major announcement: Bitstamp Earn Lending will permanently provide a 2.0% annual percentage yield (APY) on XRP.
The XRP community appears to have been unimpressed with the much-hyped unveiling, judging by the general mood.
