XRP Price Dives After SEC Files Charges

[JollyGood]

At the time of creating this thread the XRP price is $0.34 and it is over 30% down in the last 24 hours. The SEC has filed a lawsuit against Ripple and things are going to take a long time to settle because Ripple intend on fighting the allegations in Court.


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Here is what the BBC news website stated: https://www.bbc.co.uk/news/technology-55415350

Crypto-currency firm Ripple has been charged with conducting investments without proper licences by the US Securities and Exchange Commission.

The SEC asserted that Ripple's XRP token is a tradable asset, known as a security, and thus subject to regulation.

The firm argues that XRP is a currency and therefore does not have to be registered as an investment contract.

The value of XRP fell by more than 30% on the news.
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More links:

https://www.cnbc.com/2020/12/23/cryptocurrency-xrp-plunges-25percent-after-sec-files-lawsuit-against-ripple.html
https://www.ibtimes.com/why-sec-suing-ripple-what-know-about-xrp-lawsuit-3108368

[jacafbiz]

This is what we have been saying for sometime that XRP is a security and this could be the beginning of the end for XRP, I have a feeling Binance is likely going to delist it because Binance too have her own issue boiling underground with SEC, and they need to clean house and by doing so, means delisting projects that is perceived to be XRP. I believe XRP will fight this but likely going to lose

[Coyster]

Just as big events such as halving for example most times causes an appreciation in price of a cryptocurrecy, so does a bad news result in a plunge or a total collapse, this law suit is going to bring ripple down and tbh I doubt they'll be able to recover from it, quite a lot of people have pulled out and are still pulling out of the network to cut their losses, it's indeed a bad period for big time ripple holders.

For as long as this case lingers, the demand for XRP will prolly be zero, and when a crypto lacks demand for it, it's more or less is a dead coin, I'll honestly want to see how long this case goes on, the verdict and what the future holds for ripple, if any at all.

[kentrolla]

The owner of ripple made a huge mistake by selling it's holdings in big number this caused a massive drop in the price firstly else the price would have gone more than 1$ in my opinion, now such a big news has caused a major blow to the XRP founder, people have started to sell their assets and panic sell is on extreme. However they want to fight in the court and let's believe for a positive update, until then please hodl and wait patiently.

[safari88]

The value of XRP fell by more than 30% on the news.[/i]

does that guarantee that the XRP price would drop? In that case it means that it's not smart to invest to Ripple? now i see what's the reason
of the -30% price drop of the ripple.

[cassavachips]

Hoping that XRP will win it in court, XRP is quite a good project and is also in the top 10 list on CMC. I really regret this incident, but I will try to take the risk to buy some XRP at the current low.

[bunglor]

The owner of ripple made a huge mistake by selling it's holdings in big number this caused a massive drop in the price firstly else the price would have gone more than 1$ in my opinion, now such a big news has caused a major blow to the XRP founder, people have started to sell their assets and panic sell is on extreme. However they want to fight in the court and let's believe for a positive update, until then please hodl and wait patiently.

I was planning to invest to ripple and I hope this is not a bad news, I've seen that the price of it dramatically crash and I'm doubting whether to invest Ripple.
Maybe I should just wait for some update about it before going to invest.

[Rodeo02]

The value of XRP fell by more than 30% on the news.[/i]

does that guarantee that the XRP price would drop? In that case it means that it's not smart to invest to Ripple? now i see what's the reason
of the -30% price drop of the ripple.

It's actually depend if what will be the result of the case if they can solve that then this dip is a good entry and you will never have a good chance again to buy it that cheap.but if not then we will see another more deep coming in XRP price. It's only depend on the lawyer and XRP team , how they can manage the SEC issues to them. Just wait if they can provide a good news that can help the price of XRP to recover .

[Sirait]

^ This is a nightmare for any cryptocurrency, where governments try to intervene and try to regulate the circulation of cryptocurrencies in their jurisdiction. And I think it is possible that cryptocurrencies or other platforms that circulate and operate in the United States could be affected by the same thing that was experienced by XRP. I hope this case can be resolved and XRP can return to its highest price.

To be honest, I don't invest in XRP, but I do use it a lot to avoid high fees exchanges. Because in some exchanges, the fees they charge for XRP withdrawals are much cheaper compared to other cryptocurrencies. 

[Mrsonutiten]

Xrp is good for future i think worth 1$ in coming year's

[JollyGood]

This is going to be bad news for other crypto too. When the SEC forced Telegram in to a climbdown it was testing the waters to see how far they could force organisations to re-think their stance. Ripple is going to take the fight on but will probably lose and it spells bad news for other crypto too.

This is what we have been saying for sometime that XRP is a security and this could be the beginning of the end for XRP, I have a feeling Binance is likely going to delist it because Binance too have her own issue boiling underground with SEC, and they need to clean house and by doing so, means delisting projects that is perceived to be XRP. I believe XRP will fight this but likely going to lose

[bbc.reporter]

I am quite certain other cryptofunds and crypto asset managers have begun to dump their XRP also and I speculate that exchanges might begin to delist this. No one will be risking their licenses for allowing trades of an illegal security.

Also, the articles have mentioned that the SEC has sued Ripple. This appears that a judge will determine if XRP is an illegal security or not. The decision might become a legal precedent on many cases regarding if a cryptotoken is an illegal security or not. We should hope Ripple wins this case.



Crypto asset manager Bitwise has liquidated the XRP position of its crypto index fund.

Bitwise said the move took place in light of the U.S. Securities & Exchange Commission (SEC) has alleged that XRP is a security.

Bitwise said its crypto index fund "does not invest in assets that are reasonably likely to be deemed securities under federal or state securities laws."

Source https://www.theblockcrypto.com/linked/89018/bitwise-crypto-index-fund-xrp

[cryptoaddictchie]

There are too many exchanges announcing delisting of xrp and many will follow too. Not sure why Binance still lingering maybe they're too close for that to break the bond right away. Not sure what the hell is the deal with SEC. They destroying xrp now while letting it ride for the flare Snapshot without any hassle. I've smell something fishy here. Maybe xrp will go down and time for guys to buy later and win the court? Seems like a smooth play.


With this, market got affected and sudden price crash happened already.

[bbc.reporter]

@cryptoaddictchie. Too many? Can you list them? I have not presently seen exchanges delist XRP, however, I speculate American exchanges might be talking to their lawyers for advice hehe. I predict Coinbase and Kraken to delist XRP before 2021.

[cryptoaddictchie]

@cryptoaddictchie. Too many? Can you list them? I have not presently seen exchanges delist XRP, however, I speculate American exchanges might be talking to their lawyers for advice hehe. I predict Coinbase and Kraken to delist XRP before 2021.

Hello yes it is below are some of those.

1. Beaxy
2. OSL
3. Cross Tower

I believe major global exchange will soon announced too but it will take time. Some of the related news about these delist or suspension. Check them out.

https://medium.com/beaxy-exchange/beaxy-exchange-xrp-announcement-53fb9af60d25

https://twitter.com/osldotcom/status/1341660658123751425

[tbct_mt2]

This is what we have been saying for sometime that XRP is a security and this could be the beginning of the end for XRP, I have a feeling Binance is likely going to delist it because Binance too have her own issue boiling underground with SEC, and they need to clean house and by doing so, means delisting projects that is perceived to be XRP. I believe XRP will fight this but likely going to lose

Binance can delist Ripple (if the suit is real and go onward more seriously) but if it is what Binance takes into their decisions, it will be applied for their Binance global and Binance US. Honestly I realized how wise and smart the CZ is when he made his tweet in 2019 that he needs to be careful with any strict regulations from the US government and agencies when he saw the risk from coming commercial war between the USA and China.

After that tweet, Binance changed their strategies to launch some national exchanges as their preparation for any bad regulations on global exchange. Now, the life is proving his switch is very wise and was taken ahead of time.

[bitterguy28]

common reaction of Some investors to keep safe their funds because These issue has been around for long and many  XRP believers are still Looking close to this because at any chance XRP can be dumped by single person.

But rumors also there that this is a Manipulation strategy to make the value at full dump ,Like what happens in Litecoin after the Selling.

But look at litecoin now,getting closer regaining the former rank3.

[ancafe]

This is what we have been saying for sometime that XRP is a security and this could be the beginning of the end for XRP, I have a feeling Binance is likely going to delist it because Binance too have her own issue boiling underground with SEC, and they need to clean house and by doing so, means delisting projects that is perceived to be XRP. I believe XRP will fight this but likely going to lose

well, if Binance delisted XRP, I think it will be a nightmare for the XRP barrier. that's because it will cause a follow-up dump which I think will get even worse. after all, the effect of the SEC has had a profound effect on the current price of XRP. I think XRP holders will have to wait again to see the XRP price hit $ 1 again.

[gurunanakji777]

XRP dropped hard in the last somedays due to the SEC charges So some investors lose trust in XRP for the time being. Now its not the right time to buy the XRP. In the coming time, XRP has to face many challenges to maintain its value and trust because I believe it will take longer to settle the SEC issue.

[Ryushin]

This is what we have been saying for sometime that XRP is a security and this could be the beginning of the end for XRP, I have a feeling Binance is likely going to delist it because Binance too have her own issue boiling underground with SEC, and they need to clean house and by doing so, means delisting projects that is perceived to be XRP. I believe XRP will fight this but likely going to lose

This is just a prediction still, I believe that XRP won't go down because of SEC, there will be more diving in value because of weak investors but XRP can beat this difficulty, it's time to actually see how strong XRP can be, if they win this fight XRP will be even better, let's wait to see what comes next