The rally in (CRYPTO: $XRP) that was sparked by the U.S. Securities and Exchange Commission (SEC) dropping a legal case against %RippleLabs appears to be fading.
The price of XRP has fallen 4% in the last 24 hours to trade at $3.18 U.S. per digital token.
Despite winning the SEC legal battle, Ripple Labs, the company behind the XRP %Crypto, still faces the prospect of new regulations from the Wall Street regulator.
SEC Chair Paul Atkins recently said that the agency is ready to focus on building clear cryptocurrency rules now that the Ripple Labs case is behind it.
XRP rose sharply in the days after the SEC agreed to drop its case against Ripple Labs. But that rally has now reversed with the price of XRP falling.
Some social media commentators chalked the price decline up to a “buy the rumor, sell the news” event.
Others speculated that crypto traders might be taking profits in XRP after the recent rally.
And still others say that people are waiting to see what the new SEC regulations look like in practice before buying more XRP.
The price of XRP has gained 5% so far in 2025.
