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The price of %Cryptocurrency XRP has declined 30% in the last month, erasing all the gains achieved after %RippleLabs won a court victory over the U.S. Securities and Exchange Commission (SEC).

Data shows that XRP, which is one of the world’s largest cryptocurrencies by market capitalization, has erased all the gains it made after its creator, Ripple Labs, won a landmark court ruling in July.

XRP is currently trading at $0.50 U.S., down 14% in the last week and 30% lower over a 30-day period.

The digital token had reached a 52-week high of $0.83 U.S. on July 20 immediately following the court win.

In 2020, the SEC sued Ripple Labs claiming that the firm sold unregistered securities through its XRP cryptocurrency.

Ripple Labs has sought to keep its distance from XRP, the digital token it created to power some of its products and the XRP Ledger Network.

However, Ripple Labs remains closely associated with XRP, and the digital token skyrocketed in July after a U.S. judge ruled that the sale of XRP on exchanges does not constitute investment contracts similar to stocks, dealing a blow to the SEC’s efforts to regulate the crypto market.

Analysts say the selloff in XRP in recent weeks is likely due to traders and investors taking profits and a broader downturn in the entire cryptocurrency sector.

On August 18, the price of %Bitcoin ($BTC ), the biggest cryptocurrency by market capitalization, fell 10% in 24 hours to as low as $25,000 U.S.