Five months after Ripple’s resounding legal triumph over U.S. regulators, the company’s cryptocurrency has shed virtually all of its former gains against its digital competitors.

The XRP/BTC price ratio has returned to its level from prior to July 13, after which XRP rallied against the market’s leading crypto asset by ~80% within a week.

Back To Reality For XRP

In mid-July, U.S. district Judge Analisa Torres ruled that XRP sales on the secondary market did not constitute securities transactions, nor did the asset itself meet the legal threshold of an investment contract.

The victory invited a slew of exchanges including Coinbase, Gemini, and others – which aren’t licensed to list securities – to re-enable trading for the asset after nearly three years since the Securities and Exchange Commission (SEC) sued Ripple for issuing unregistered securities.

Nevertheless, fading hype for XRP coupled with waves of bullish news around Bitcoin (BTC) has brought the price ration between each coin to one of its lowest levels this year, at just 0.00001516 BTC as of Friday.

XRP/BTC completely retraced all of the gains from @Ripple winning their case against the SEC#rekt pic.twitter.com/e85R4cLMjb

— Pledditor (@Pledditor) December 8, 2023

In fact, Bitcoin’s dominance over rivals has grown throughout the year. According to TradingView, it now compr