XRP Price Dives After SEC Files Charges

[JollyGood]

Ripple is worth billions right now even after courting negative publicity surrounding the legal action taken by the SEC.

Like you said, if they go after Ripple now and succeed then which crypto will be next? If a legal precedent is set against one then maybe that will be used against others so it is in the interest of everything within the crypto sphere for Ripple to hire the best legal defence to defend itself.

I am not sure if I agree with you about Ripple settling out of court because even if they escape a lengthy court battle not all crypto will be able to raise the finances to do so.

@JollyGood. Ripple's investors similar to Andreessen Horowitz and CME Ventures might also have the political connections to help them avoid an unfavorable verdict or there might only be a settlement on the case without a trial.

Also, I reckon we should hope that Ripple settles or avoids the charge because the case might become a legal precedent to use against everything else in the cryptospace.

[1715400272]

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[jqprez]

It really will be along drawn out process and anything could happen in court and during the appeal. Ripple and those behind the project have billions of USD$ to defend themselves so they will not hesitate to spend it on the best legal team that money can buy.

Money that will be stolen from the coffers of the crypto holders. It is sad to see that an initiative born in 2013 and which therefore has been cheating us for almost 10 years, is being pursued by the galactic guardians of the economy of the sec only today.
[/quote]

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.

[/quote]
 It is a match that can only have one winner. Suppose ripple was wrong, it would be the end of ripple and therefore of all those who invested in it. Suppose the SEC was wrong, what would it lose? For now xripple, and therefore all owners of xripple, have lost 50% of the invested value just before the declarations of the sec.

[JollyGood]

What you say is correct but what happens if the people buying XRP at low prices end up losing everything if the SEC win their case? I agree a lot of this depends on the legal team that Ripple hire and without a doubt they will hire the best lawyers that money can buy. This will be a long fight in the courts but the chances are the SEC is using Ripple as a test case in order to go after all crypto projects.

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 .

[darewaller]

I am laughing out loud on the people who claim that SEC is doing this on purpose and they have something against Ripple and they are basically jealous of it, lol. I mean bitcoin is literally used to pay your taxes in Ohio, you got that right? Literally a whole state that accepts bitcoin, and SEC does absolutely nothing about it, New York has bitlicense and had that for over 5 years now if I am not wrong as well.

California is place for many crypto companies as well. So all in all SEC allowed every single one of those companies to exist, and let you pay your taxes in crypto, everything about that is perfectly fine, BUT when it comes to XRP and Ripple, SEC got jealous of it? Or has a secret hidden motive to let it die? Why would sec do something like that? What's in it for them? Obviously that is a wrong statement and it will always be wrong no matter how many XRP fan boys will say that.

[bbc.reporter]

Ripple is worth billions right now even after courting negative publicity surrounding the legal action taken by the SEC.

Like you said, if they go after Ripple now and succeed then which crypto will be next? If a legal precedent is set against one then maybe that will be used against others so it is in the interest of everything within the crypto sphere for Ripple to hire the best legal defence to defend itself.

I am not sure if I agree with you about Ripple settling out of court because even if they escape a lengthy court battle not all crypto will be able to raise the finances to do so.

@JollyGood. Ripple's investors similar to Andreessen Horowitz and CME Ventures might also have the political connections to help them avoid an unfavorable verdict or there might only be a settlement on the case without a trial.

Also, I reckon we should hope that Ripple settles or avoids the charge because the case might become a legal precedent to use against everything else in the cryptospace.

There are other ICOs that have settled with the SEC. EOS which clearly is a security that would not have passed the Howey test was one of them.

In any case, our attention should be on Coinbase. It is in a bad situation where it cannot go on with their IPO because it has XRP listed and it cannot delist XRP because the investors of Ripple are also the investors of Coinbase hehe.

[poodle63]

I am laughing out loud on the people who claim that SEC is doing this on purpose and they have something against Ripple and they are basically jealous of it, lol. I mean bitcoin is literally used to pay your taxes in Ohio, you got that right? Literally a whole state that accepts bitcoin, and SEC does absolutely nothing about it, New York has bitlicense and had that for over 5 years now if I am not wrong as well.

California is place for many crypto companies as well. So all in all SEC allowed every single one of those companies to exist, and let you pay your taxes in crypto, everything about that is perfectly fine, BUT when it comes to XRP and Ripple, SEC got jealous of it? Or has a secret hidden motive to let it die? Why would sec do something like that? What's in it for them? Obviously that is a wrong statement and it will always be wrong no matter how many XRP fan boys will say that.

Yeah exactly, this kind of thing also helps prevent any of those crypto companies from doing fraud or illegal offering in the future. XRP is shady af and the founder also keep dumping the coin I still wonder why people still defend it like that.
I know maybe too much of people putting their money to XRP considering how big its market cap was but what SEC did to file lawsuit against Ripple is definitely needed if Ripple happens to break any law (need to obey law because this thing is centralized).

[decodx]

I know maybe too much of people putting their money to XRP considering how big its market cap was but what SEC did to file lawsuit against Ripple is definitely needed if Ripple happens to break any law (need to obey law because this thing is centralized).

Not only are they centralized, but XRP cannot even be considered a genuine cryptocurrency. Ripple's issuance of many billion XRP tokens is used to create the illusion of paying clients. But the fact is, Ripple is actually paying them, not the other way around.

[Vishnu.Reang]

Yeah exactly, this kind of thing also helps prevent any of those crypto companies from doing fraud or illegal offering in the future. XRP is shady af and the founder also keep dumping the coin I still wonder why people still defend it like that. I know maybe too much of people putting their money to XRP considering how big its market cap was but what SEC did to file lawsuit against Ripple is definitely needed if Ripple happens to break any law (need to obey law because this thing is centralized).

Have to agree here. I have to agree, when you say that XRP is a shady cryptocurrency. It has like 100% pre-mine. Which other altcoin has anything similar to a 100% pre-mine? And XRP, being a centralized cryptocurrency is diabolically opposite to most of the other decentralized cryptocurrencies. The problem with XRP is that the promoters made a lot of money by creating pump-and-dump cycles and then dumping their tokens. And this is where the 100% pre-mine comes in to picture. Actually we should thank the SEC for taking action against this scam coin.

[robelneo]

Probably the biggest issue that XRP will be facing since it's existence SEC asserted that it's a security token because it acts and looks like one,
but the developers think otherwise, this is going to be a long battle and all actions by XRP will be scrutinized by SEC since its creation.
Ripple is going to lose a lot if they drag this issue into a long court proceeding, investors are not patient with the volume and the price clearly voiced out investors dislike about the issue.

[hulla]

It is interesting that now large investors have stopped buying ripple and small investors still do not allow the price to fall significantly.

Small investors cant stop the falling in the price of the crypto market and for your information XRP price is controlled by the XRP team not investors because they are holding 60-75% of all the maximum supply of coin and that's why they easily manipulate the coin price.

Not all exchanges are in a hurry to stop working with ripple...

That's because the coin CEO is a billionaire and they know he can pay the fund requested by the US SEC.

[el kaka22]

To see XRP down while everything else is doing amazing is a perfect feeling, I can't explain how happy I am right now. I would like to point out that XRP got started with 21 cents or so, but reached to 28 cents or so very quickly in a month, which means we are basically at year to date levels nearly, or in a month we will be there to say the least.

So that means while everything else moved from small levels, ETH reaching from 130 dollar levels to 660+ dollar levels, all crypto going up at least 2x if not more, many going even as much as 5x higher as well (smaller) and big ones going 3x, to 4x, the market has been perfect this year and amazing. What happened to XRP meanwhile? It moved from 22 cents to 29 cents, that is really makes me very hopeful about the future of crypto. We are finally getting rid of this bad centralized and horrible project, or at least it is the start of it.

[JollyGood]

Some analysts are saying the same thing, that this case against Ripple is supposed to be one that will be a test case for them to wait to get a judgement in their favour before they start going after other crypto but I am not sure how they could go after truly decentralised crypto because there is no single controlling factor.

^ 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. 

[lixer]

This is also just after the charges, it is not even the results. Think about what would happen if SEC finds Ripple guilty and they put the CEO and founders in jail, and bans Ripple company from doing work, asks for american exchanges to halt all XRP trade and all those things. Can you imagine what could potentially happen if they did something like that? It would make XRP price go to under 10 cents for sure without a doubt. Sure there are still other XRP holders in other nations so it will not completely die, but it will definitely put a big dent into the system.

And by "decentralized" logic, if Ripple is closed, that would mean there are non-American holders that will still continue to trade it. So I would say a big doom is on the way but not complete garbage, it will be like in top 50 probably, but it will barely be there while dropping a ton under other coins.

[akirasendo17]

it's not the dumping of coins the drag xrp price down, but its an issue with the sec, its been a long time battle with those two, I have heard the person who is the head of the sec is not pro-crypto while the new head is pro-crypto, I think before he leaves he make a big deal out of it, to make some chaos, in xrp community although it's not clear but also xrp has still some needs to answer some of the accusations being thrown at them.

[qory]

Looks like it's still continuously driving down is there any updates on what is happening about the XRP looks like it started crashing now. Can anyone make a guess what could be the worst will happen to the price of the XRP?

[decodx]

Looks like it's still continuously driving down is there any updates on what is happening about the XRP looks like it started crashing now. Can anyone make a guess what could be the worst will happen to the price of the XRP?

The worst that can happen to Ripple? SEC may win in the Ripple case, which could render XRP 'untradeable'. This is an even worse outcome than for the XRP price to gradually fall to zero since such a ruling would mean that essentially all centralized exchanges would stop trading XRP literally overnight.

[DIA7]

Ripple is worth billions right now even after courting negative publicity surrounding the legal action taken by the SEC.

Like you said, if they go after Ripple now and succeed then which crypto will be next? If a legal precedent is set against one then maybe that will be used against others so it is in the interest of everything within the crypto sphere for Ripple to hire the best legal defence to defend itself.

I am not sure if I agree with you about Ripple settling out of court because even if they escape a lengthy court battle not all crypto will be able to raise the finances to do so.

@JollyGood. Ripple's investors similar to Andreessen Horowitz and CME Ventures might also have the political connections to help them avoid an unfavorable verdict or there might only be a settlement on the case without a trial.

Also, I reckon we should hope that Ripple settles or avoids the charge because the case might become a legal precedent to use against everything else in the cryptospace.

There are other ICOs that have settled with the SEC. EOS which clearly is a security that would not have passed the Howey test was one of them.

In any case, our attention should be on Coinbase. It is in a bad situation where it cannot go on with their IPO because it has XRP listed and it cannot delist XRP because the investors of Ripple are also the investors of Coinbase hehe.

looks like that Coinbase is pulling the plug on XRP
This will definitely hurt it more also just now XRP had a 8% dip going down to just a 25 cents and could possibly go down even more and here is the announcement

[cryptoaddictchie]

looks like that Coinbase is pulling the plug on XRP. This will definitely hurt it more also just now XRP had a 8% dip going down to just a 25 cents and could possibly go down even more

Now this is the start, since coinbase pulled this news already I'm pretty sure big exchanges will follow. Sorry but I think xrp investors are gonna bleed more on the coming days. Panic sellers gonna panic more, and whales are gonna throw a lot their hold xrp. Too bad If this happened I think some major coins may pump since people and whales from xrp are gonna jump to a new course leaving it dead. I assume ripple will sink slowly after being delisted one by one.

[2double0]

Investors are looking in a deep down worry about what will happen if its price does not hold even the lowest support levels. XRP has become a mess since that lawsuit was filed and had since been dumped in the markets leaving all the investors in grey. Nothing looks in favor of XRP right now, so even whales are shorting it with their complete potential to make a fortune out of it.

[JollyGood]

That is a massive statement coming from a newbie and without any explanation or rationale that would provide thought provoking ideas from those reading your post. On the surface it is a bad idea to invest in XRP with a view to hold on to them long term because we do not know at which stage actions by the SEC or the courts might reflect on the price. I think there are many investors buying and selling XRP on short term basis and making profit even now but the $1 you suggested in way off the mark.

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