XRP’s Regulatory Clarity Gives It an Edge Over Other Cryptos, Experts Say

In a recent interview with CNBC, Stuart Alderoty, Chief Legal Officer of Ripple, explained XRP’s unique regulatory status in the United States. This revelation follows a significant court ruling that classifies XRP as a non-security, setting it apart from other digital assets.

Join us as we explore this regulatory milestone and what it means for the token, along with a brief overview of the XRP price predictions.

Achieving Milestones

Stuart Alderoty stressed the exceptional regulatory position of XRP in the United States during his interview. He highlighted how XRP differs from big players like Bitcoin (BTC) and Ethereum (ETH). BTC is mainly seen as a store of value, while ETH is known for powering smart contracts. XRP, on the other hand, stands out with its focus on quick and efficient transactions, addressing specific needs.

Alderoty noted that countries such as Singapore, the United Kingdom, and Japan have well-defined and logical rules for cryptocurrencies. These regulations encourage innovation while ensuring strong oversight. In contrast, the United States appears to struggle with political issues, leading to less sound policies.

A victory in court

Stuart Alderoty celebrated Ripple’s legal victory on July 13th, emphasizing the unprecedented clarity it provides for XRP in the United States. He proudly stated, “XRP, as a digital token, is now uniquely classified as a non-security in the U.S.” Importantly, only XRP and Bitcoin have this level of regulatory clarity in the country, a viewpoint supported by SEC Chair Gary Gensler.

Crypto Bill – Now the Only Solution?

Despite the victory, Alderoty expressed concerns about a more extensive issue—the lack of a universal regulatory framework in the United States. He stressed the importance of not relying solely on legal battles to determine the classification of digital tokens. Instead, he called for a consistent and rational regulatory approach. However, he remains skeptical about substantial progress in the current or upcoming Congress sessions.

SEC is Struggling

With various lawsuits focusing on the “security status” issue, the SEC faces financial uncertainty. The legal clarity surrounding XRP, the only cryptocurrency with such a classification, sets a precedent for others to challenge the SEC’s stance. While this landmark judgment directly impacts XRP, it creates a path for others in their struggles with the SEC.

XRP Price Forecast 

Despite the legal win, XRP has yet to reach a new all-time high (ATH). The uncertainty before the final verdict has hindered the expected price surge. As a result, crypto enthusiasts are advised to moderate their XRP expectations. Influencer Crypto Assets Guy recommends a more realistic outlook, predicting a potential new all-time high for XRP, possibly around $3.70, later this year or in 2024.

This practical perspective arrives as many in the XRP community grow tired of overly optimistic forecasts

Read More: Top Reasons Why XRP Price May Trigger a Bull Run Prior to the Other Major Cryptos in the Market

While XRP celebrates its regulatory clarity in the United States, the road ahead remains uncertain, particularly concerning its price performance. This victory marks a significant milestone, but the crypto market’s future remains uncertain and will only become clear over time.