Ripple (XRP) has been suffering series of hindrances from regulatory body (The US SEC) since late last year. The attack led to a litigation in a US court leading to panic sales of XRP from majority of their investors. The litigation in the US saw the co-founder of XRP who happens to be the CEO of Stellar XLM sold his XRP. This created more fear among the investors before XRP started to gain the market loss back in January.
Another report came out a week ago that the UK treasury has classified XRP as non-security asset and this is different from the law suit by the US SEC filed against XRP.
Will this mean the XRP might be back to it's position in the Cryptocurrency community soon?
The U.S. Securities and Exchange Commission (SEC) and Ripple said this Monday,Feb. 15, 2021 that there’s little chance of settlement ahead of the expected trial of the blockchain payments firm (XRP) over alleged securities infractions. and Ripple has refused to comply saying the documents fall under attorney-client privilege and that the SEC’s request is “improper and lacks legal foundation.” The SEC may ask the court to compel Ripple to provide documents and related deposition testimony, the regulator said in the letter. But the fate of XRP will not depend on that, it will surely depends on the people who still believe in it.