Despite the U.S. Securities and Exchange Commission (SEC) dropping its case against Ripple, XRP's price has not shown the anticipated increase. Questions remain.
SEC Case Withdrawal and Market Reactions
Initially, announcements of the lawsuit's resolution saw XRP spike to $2.60, reflecting a 16% rise. However, it soon retreated to $2.38, erasing 8% of its gains. This left investors questioning why the cryptocurrency hadn't significantly surged.
Experts Weigh In on XRP Predictions
Investor Armando Pantoja commented on social media that the lack of an official SEC statement leaves investors cautious and this stalls price increase. He highlighted that XRP's price is more influenced by derivatives trading, unlike speculative coins.
What Could Drive XRP's Price Higher?
Merlin co-founder Johnny Krypto believes XRP's long-term growth will depend on institutional backing and real-world use. Key drivers include institutional adoption, asset tokenization on the XRP Ledger, cross-border payment integrations, and fresh capital inflows.
While XRP did not show a substantial price increase post-SEC withdrawal, experts see potential for future growth based on fundamental factors and institutional interest.
