Despite strong performance today, reaction of XRP to SEC's descision can be considered 'mild'
XRP was expected to experience a notable price surge following the favorable verdict in the legal case involving Ripple's top executives. However, the crypto market can often defy expectations, and this time was no different. Despite a significant win for Brad Garlinghouse and Chris Larsen against the Securities and Exchange Commission (SEC), XRP's anticipated bullish run turned out to be more of a whimper.
The chart showcases lackluster price performance for XRP on a daily basis. Prior to the decision, there was speculation on the market that a positive outcome would be the ignition XRP needed to once again reach its previous highs, if not exceed them. Investors and traders alike braced for a potential rally which, unfortunately, never materialized. The price remained stagnant, hovering around its current support levels with no significant upward movement.
Brad Garlinghouse, Ripple's CEO, had a passionate response to the court's decision. Celebrating Ripple's win against the SEC, he highlighted the challenges they faced during the case. His statement, "Today was an even better day. Ripple: 3 SEC: 0," displayed not just a tally of their victories but the sentiment that Ripple had been unjustly targeted. Garlinghouse accused the SEC of not just neglecting its duty to protect consumers and businesses but also of pursuing an aggressive, personal vendetta against him and Larsen.
