By The Numbers: Deciphering XRP’s Lost Momentum Amid The SEC Lawsuit
The US Securities and Exchange Commission’s (SEC) legal tussle with Ripple over the XRP token may have significantly set its trajectory back in the US market. Crypto lawyer John Deaton explained this in an X (formerly known as Twiter) post uploaded earlier today, shedding light on the ramifications of the SEC’s lawsuit on XRP’s potential adoption in the US. You could NEVER underestimate the damage the SEC’s lawsuit has caused – NOT ONLY AGAINST RIPPLE – BUT #XRP. THREE YEARS OF ADOPTION – that’s what it’s caused. Just how long is 3 yrs – in crypto....
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The price of XRP is showing bullish signs in the short term despite the ongoing SEC lawsuit against Ripple. XRP holders are still struggling around the $0.30 area while the majority of the cryptocurrency markets are euphoric with Bitcoin (BTC) price surpassing $40,000.BTC price is currently over 100% higher than the previous all-time high in 2017, while XRP’s price is still down more than 90% from the all-time high in 2017. A lawsuit from the SEC against Ripple is certainly not bullish and is the primary reason for this overall weakness as this is prompting some exchanges to delist.....
XRP has fallen below Litecoin by market cap after a major investor filed a new lawsuit against Ripple. XRP has once again lost its place as the fourth-largest cryptocurrency, with lawsuits mounting against Ripple after one of its major investors followed the SEC in filing a complaint against the project.According to a Jan. 6 report from Bloomberg, Tetragon, one of the lead investors in a $200 million Series C funding round for Ripple in 2019, has filed a complaint against the firm in the Delaware Chancery Court. The investment company claims it is seeking a court to “enforce its....
A petition has been started calling on U.S. Securities and Exchange Commission (SEC) Chairman-Designate Gary Gensler to end the lawsuit against Ripple Labs and its executives over XRP tokens. The petition also demands “a thorough investigation of the matters that led to the last-minute lawsuit against Ripple, filed on the last day in office by former SEC Chairman Jay Clayton.” Petition to End SEC Lawsuit Against Ripple An XRP advocate, Thomas Hodge, has started a petition on Change.org calling on SEC Chairman-Designate Gary Gensler to “end the war on XRP.” Gensler....
XRP’s fall from grace saw the asset briefly drop to the number five spot by market cap. Litecoin (LTC) and XRP briefly traded places in market capitalization rankings over the weekend, highlighting the impact of the recent lawsuit against Ripple filed by the United States Securities and Exchange Commission.The so-called “flippening” happened early Sunday when Litecoin’s market cap hit $9.95 billion following a more than 12% surge in price. XRP, meanwhile, had declined in excess of 25% over a 24-hour trading period. LITECOIN JUST FLIPPED XRP pic.twitter.com/yjBq15JtpV— HODLGeorge....