Ripple being named the best cross-border payments platform of 2024? That's fantastic for them. But it is really nothing new. Ripple has been collecting trophies for a while now. From making the Best Workplaces list according to Fortune to recognition in financial services, they have become a darling in corporate circles.
But none of this seems to matter much or reflect on XRP's price (their native token).
Look at how XRP has consolidated between the $0.52-$0.54 range for the past week now. No real movement, and it's frustrating indeed but not really unexpected. After all, the ongoing Ripple vs. SEC lawsuit looms over any price action. Sure, Ripple may be out there winning awards, but the market remains focused on the unresolved legal mess. The appeal of the SEC against the verdict given in 2023 feels like a cloud that nobody is ready to clear, and this uncertainty strongly reflects in the price of XRP.
What really irritates me is all this hype from analysts acting like this lawsuit is nothing. I have seen users like Dark Defender on X say that the appeal is a "blunder" that doesn't have long-term implications for XRP. OK, fair enough, but that sounds like wishful thinking.
The lawsuit, for me, is still the dark cloud looming over any achievements Ripple earns, which keeps XRP in this price limbo. I wouldn't hold my breath for big gains until that legal battle is over: awards are nice, great, but they're not moving the needle where it counts.