Ripple plan to re-engage with US market could trigger XRP price recovery

Ripple’s partial victory versus the US Securities and Exchange Commission’s (SEC) has helped the cross-border remittance firm make the decision to re-engage with the US market. The payment firm is already making strides in its partnerships in regulated places like the UK, Europe, Singapore, Dubai and the Middle East.

Ripple President sheds light on firm’s plans for the US market

Ripple President, Monica Long, told CNBC in an interview that Ripple is ready to make its comeback in the US. This development comes after Judge Analisa Torres’ ruling declaring partial victory for the payment remittance firm against the US SEC. While there has been speculation of the ruling facing trouble after updates in the SEC v. Terraform Labs lawsuit, Ripple has plans to begin re-engaging with the US market and its key players. Ripple’s executive acknowledged the firm’s international expansion in places with regulatory clarity, like the UK, Europe, Singapore, Dubai and the Middle East. These jurisdictions have provided clear framework and guidance to the payment remittance firm, making operations and expansion relatively easier for Ripple. The announcement is likely to act as a bullish catalyst for XRPLedger’s native token XRP price.

XRP price is in a slump, awaiting a catalyst for recovery

XRP price has been in a consistent decline since its July 13 high of $0.9354 on Binance. At the time of writing, XRP is trading at $0.6641. The altcoin is awaiting a bullish catalyst to trigger a recovery, after nearly 30% decline from $0.9354 to $0.6641. XRP price could recover if the token’s adoption and utility increases, with a wider use case for the XRPLedger blockchain.