Software engineer Vincent Van Code provided insights into the SEC's decision to drop its appeal against Ripple and what it means for XRP.
Significance of SEC's Decision and XRP Status
Vincent Van Code analyzed the U.S. Securities and Exchange Commission's (SEC) decision to drop its appeal against Ripple. He highlighted that the primary risk in the appeal was the potential challenge to Judge Torres' ruling, which stated that 'XRP in and of itself, is not a security.' This ruling left XRP in a state of uncertainty, particularly for large financial institutions and investors. Van Code pointed out that the financial penalty for Ripple had already been paid and awaited its status in escrow, removing financial uncertainty regarding the SEC's claims. With the appeal dropped, it is now confirmed that 'XRP IS NOT A SECURITY AND NEVER WILL BE.'
Market Reactions and Institutional Adoption
Despite this legal clarity, Van Code questioned why XRP's price had not significantly increased. He noted that major institutional players have not yet joined the market, citing low trading volumes and potential market manipulation. He also explained that institutional investors often take time to react due to procedural approvals needed for significant purchases, delaying potential buying pressure on the cryptocurrency.
Future Outlook for XRP and Investor Patience
Van Code noted that with legal risks removed, nothing prevents the spread of XRP. He anticipates further growth, emphasizing investor patience, warning that 'impatience' can be their greatest obstacle. He advised holders to be patient, enjoy the current victory, and start planning their next moves.
Van Code's analysis showed that the SEC's decision removed the uncertainty that previously clouded XRP's future, confirming its legal status. Despite this, market reactions remain slow, with institutional investors expected to gradually accumulate XRP. He emphasizes the need for patience, stressing his belief in XRP's inevitable adoption.
