Bad time for Ripple (XRP)

[Aveatrex]

Ripple, which notionally controls the token known as XRP, is currently being taken to court by an investor, Bradley Sostack, who claims the company engaged in selling unregistered securities.

Source:https://cointelegraph.com/news/sec-is-bringing-thors-hammer-against-ripple-warns-tone-vays

From my point of view, Ripple is seriously threatned by this lawsuit and we already saw the preliminary effects of this event by watching XRP fall by more than 30% in terms of price.I never liked XRP much since it's a centralized coin, but it definetely has an use case for users who consider centralization not a problem and seeing it lose a lawsuit or taken down by the SEC will have a big impact.

Any thoughts?

[otcrypto]

The lead plantiff only has 150k xrp, its pittiful, Ripples lawyers are going to have a field day with it. If you read the actual lawsuit the evidence is a series of TWEETS from xrp employees to suggest xrp is a secruity, imagine a lawsuit with its best evidence from tweets.

[milesfull]

Looks like Ripple really in trouble. SEC is so agressive in this year

[samcrypto]

It is being put on the court and XRP must make a legal reason to defend that allegation or else, they will be on a big risk. This is the doubt on a centralized coin, they can control it on their own and they can so things under the table. The complainant is not a simple man too, for sure he can provide all the evidence needed, let’s watch this case and stay alarm if you are holding XRP, better to sel early.

[Ifychuks]

It is being put on the court and XRP must make a legal reason to defend that allegation or else, they will be on a big risk. This is the doubt on a centralized coin, they can control it on their own and they can so things under the table. The complainant is not a simple man too, for sure he can provide all the evidence needed, let’s watch this case and stay alarm if you are holding XRP, better to sel early.

This is so bad and I see this news to bring a lot of damage to that project. But hey, this is crypto. This whole saga might not end up the way people expect it to. So many things might change hands behind the curtain which likely the public won't be aware of. Anyway, let watch and see the final results.

[VanDeinsberg12]

Looks like Ripple really in trouble. SEC is so agressive in this year

It's not about SEC but that investor is very smart to take this centralized crap coin without utility usage to the court. Remember a lot of shares already owned by the CEO and Ripple foundation itself. Many years after ripple has already created and it has nothing to do with the token.
No utility usage or even it can't give security usage like dividend or something else. This is the best decision by investor.

[nxnqauff]

There should be reason behind this deep fall and crash in ripple. I am still trying to understand the concept. Deep law suit could be a big concern too.

[martina14]

Looks like Ripple really in trouble. SEC is so agressive in this year

This is why i am not into RIPPLE even before.
I think xrp should be regulated as on what they are into (project offer)

As their price decrease? i think they are just depending on the BTC price to USD for a long time now.
XRP is really into big trouble and will go deep more.

[bigcash2011]

No need to panic and i do not think that only xrp has crashed today if we check the market almost all the coins are struggling and are down and this is most probably due to sharp decrease in market volume so do not feel depressed just wait and market will be back soon.

[Kemarit]

Looks like Ripple really in trouble. SEC is so agressive in this year

SEC have filled many cases against projects this year, but this is different though, it looks like this is continuation of the legal battles between XRP investors and the company itself Ripple.

Any negative news will really put a project in bad light, so definitely this kind of news will put a dent in the price. Although it was camouflage because the price of crypto market is down, including Bitcoin, but this could have a lengthy effect on the price and this case could drag for years and could possible affect the mindset of XRP investors.

[lunobird]

The xrp sellers will regret this. Xrp has a tendency to shake out  the weak hand retail investors and the moment you sell the bottom it will burn rocket fuel into your face by big investors that know a steal when they see one.

Xrp is the only crypto out in the wild being used in real life big big companies and bank.

You either hate xrp or love it. Pick your side and let's see who will make our well in the future.

[Upgate]

If ripple lost a law suit to sec that is they has some skeleton in their cupboard. Sec needs to start dropping the hammer hard on coins and this will stand as an example to other coin to get the acts right. Such actions by sec is what the crypto space needs