Ripple to be sued by the SEC

[cryptovlek 2597]

Sad news for XRP owners. Brad Garlinghouse tweeted that SEC is planning to sue the Ripple.

 

Ripple holds in escrow accounts more than 50billion XRP out of 100 billion of the total circulation. This is seen by many as an infinite ICO and the SEC as Garlinghouse suggests is about to sue the company for selling unregistered securities illegally. Something same happened with EOS in the past and this was settled with EOS paying 24 million USD, very small price for the four billion dollars the ICO raised for EOS. However Ripple thinks differently from EOS and challenges the SEC before any lawsuit or announcement is made.

 

 

The price of Ripple is down 17.8% today after this news and traded now at $ 0.46 .

 

Garlinghouse tweet link is this one: https://twitter.com/bgarlinghouse/status/1341193536780214273 there is a lot of discussion and support for XRP from other crypto leaders. Ripple wanted to avoid XRP being called a security and with this decision by the SEC it makes the sales from Ripple to investors being illegal and unregulated with compromise by Ripple or legal procedures as possible outcomes.

 

UPDATE: 

Vitalik Butering tweeted a response to Ripple announcements on the above:

Vitalik Tweet: https://twitter.com/VitalikButerin/status/1341219519545556992

 

 

Edited December 22, 2020 by cryptovlek

[Sykkuno 2887]

I wonder how Ripple will manage to manipulate the price and reach $0,60 again in a few days, as this market of some altcoins is unrealistic and driven by just a few whales while most of volumes are fake, as the most numbers of Ripple transactions that are repeated by the same accounts to produce fake interest in this coin.

[mrboks1232 611]

I managed to get out of the ripple in time and don't want to go back there yet.

[annayks 2314]

Ripple can try to be the rebel as they do in this case, with tweets about the fight they try to put, but in the end they will pay even more to the SEC and will be considered a security. Or if they don't accept it will be even worse for Ripple and their wallets of xrp.

[Raqeebzy 6456]

I actually went to confirm Vitalik tweet to confirm if he actually called Ripple XRP a shit coin. He actually did 😅. And apart from"shit coin" claim, I agree with Vitalik tweet. Apart from the fact that major mining in China pools which contributes to ETH/BTC which contributes to more than 50% hash rate of the total network, I disagree China controls BTC and ETH. It is a wrong claim by Garlinghouse but Vitalik tweet went too hard. 😅

[pablomarwan 3082]

This decision will cause the collapse of the march of successes and developments that I made a few years ago from now. However, there is news that it will change its headquarters to the Far East, in a strategic location linked by Asian countries. It has a winning point, as it owns China and Japan is next to it. Saying there will be more transactions.

[susan8929 811]

I'm sorry for those people who keep xrp, because the price has decreased quite a bit during the last 24 hours; although currently it has recovered a bit, but everything seems very uncertain for that crypto.
It is not my favorite cryptocurrency, but I have known it for quite some time, so I hope the team will be able to solve quickly the problems they have with the SEC.

[Naseer Ahmad78 721]

It is a bad news for us all of our future planes are collapsed due to this decision,the only one thing is possible for ripple by doing tweets in that sense they will require high security,if the administration response then it will be good for ripple their currency and their wallets,we all hope that ripple will get its own position soon and the user will be returned back.

[cryptovlek 2597]

7 hours ago, susan8929 said:

it has recovered a bit, but everything seems very uncertain for that crypto.

It dropped even more. Price is now $0,34 and I don't know if it will recover.

I hope with this warning post I made I helped the XRP holders, although usually these are people that have been poorly informed about Ripple and the power it has in the XRP crypto making it centralized and its price is relative to regulations. There will be strict review in more crypto with Chainlink, Stellar and Tether being under the SEC radar.

Price of XRP now:

 

[tienda 8776]

This is bad news for all Ripple XRP users. I don't understand why they are doing anything with their coin, for them nothing of importance about the people who invested on their coin! Sincerely we should be afraid to be hacked by hackers and also by coin owner, case like this of XRP can happen, and we will be a victim.

[sabiqalrayan 482]

Dear friend ripple XRP price now good movement and price pump 0.70$. Ripple XRP is very good coin and its transfer fee very low. But today XRP down price 0.33$ and I think again XRP price increase. I also see some site prediction if btc price achieve 50k than XRP price acheive 9.10$. I think XRP investment for long time may be profitable and I also invest in yobit exchange XRP coin.

[Syedbesharat 5423]

The price goes down now XRP is at  $0.32 which is 32% down fall. The XRP is fighting back it's good thing but the news surrounding XRP does look to me. As I was preferring XRP is a safe like TRX and invested not doubting myself. Because in stability I find XRP is best but from one news the price drop down rate give me chill so now I am gonna move from XRP and find more suitable coin to hold my coins. Usually I convert my Coins into XRP and TRX but now the XRP is facing SEC it's better to move at side line. 

[Khan 1414]

Thanks for sharing the news and the XRP target of the year was $1 at least but because of the news its down again and now is the chance for investors to invest and get some good profit.

[cryptovlek 2597]

5 hours ago, Khan said:

Thanks for sharing the news and the XRP target of the year was $1 at least but because of the news its down again and now is the chance for investors to invest and get some good profit.

Wait for even worse. Price reached $ 0.20 and should go even lower, perhaps find some kind of support at $ 0.10 as the exchanges in the US will start delisting it. XRP is now in an existential crisis. A delist from Coinbase would bring it another 50% down and if followed by other US exchanges it could mean XRP could easily go back even lower.

 

 

[kyoukage01 3181]

On 12/23/2020 at 6:15 PM, cryptovlek said:

It dropped even more. Price is now $0,34 and I don't know if it will recover.

OUCH!!! I'm so glad I got rid of my XRP holdings a month ago. I don't know about my friend who I sold my XRPs to though, he's been using that quite a lot.

 

18 hours ago, cryptovlek said:

Wait for even worse. Price reached $ 0.20 and should go even lower, perhaps find some kind of support at $ 0.10 as the exchanges in the US will start delisting it. XRP is now in an existential crisis. A delist from Coinbase would bring it another 50% down and if followed by other US exchanges it could mean XRP could easily go back even lower.

Investing on XRP for profit at this time can be dangerous indeed. On one hand, if Ripple recovers from this crisis, everyone who bought it at dirt-cheap prices now can look forward to reaping huge profits later. But on the other hand, if Ripple can't make it through, investors will get stuck with a shitcoin they can't dispose of so easily.

 

This development is going to have a huge effect on the crypto markets. XRP is one of the top altcoins on the market, and its sudden loss will have significant impact.

 

[yonkii 3205]

I remember reading about a rumour that SEC was to consider XRP a security and it happened. It wasn't discussed too much and nobody was giving the required attention. I didn't know there would be an outcome like this one and that exchanges will start delisting it. It is probably something very big and Ripple will pay a lot for this. It might even be asked to pay investors back if the SEC takes it too far.

[cryptovlek 2597]

As expected Coinbase will be next to freeze XRP trading. All trading of XRP in Coinbase will be frozen at 19 January 2021. Price dropped even more after this news. It is now again at $0,21 making a new low in a few exchanges.

I don't have hope for this coin anymore and all that can happen is to drop more as next it will be Kraken and Bittrex that will freeze trading.

[bogdanoff 3173]

I don't know what is Garlinghouse talking about. Guy has lost it, he is accusing Bitcoin of being a chinese project to defend his Ripple company and the handling of XRP. Who will support him from the crypto community, making unreasonable claims like this.

[abd1992 960]

On 12/22/2020 at 10:07 AM, cryptovlek said:

Sad news for XRP owners. Brad Garlinghouse tweeted that SEC is planning to sue the Ripple.

 

Ripple holds in escrow accounts more than 50billion XRP out of 100 billion of the total circulation. This is seen by many as an infinite ICO and the SEC as Garlinghouse suggests is about to sue the company for selling unregistered securities illegally. Something same happened with EOS in the past and this was settled with EOS paying 24 million USD, very small price for the four billion dollars the ICO raised for EOS. However Ripple thinks differently from EOS and challenges the SEC before any lawsuit or announcement is made.

 

 

The price of Ripple is down 17.8% today after this news and traded now at $ 0.46 .

 

Garlinghouse tweet link is this one: https://twitter.com/bgarlinghouse/status/1341193536780214273 there is a lot of discussion and support for XRP from other crypto leaders. Ripple wanted to avoid XRP being called a security and with this decision by the SEC it makes the sales from Ripple to investors being illegal and unregulated with compromise by Ripple or legal procedures as possible outcomes.

 

UPDATE: 

Vitalik Butering tweeted a response to Ripple announcements on the above:

Vitalik Tweet: https://twitter.com/VitalikButerin/status/1341219519545556992

 

 

Indeed, there was great news in order to file my lawsuit against Ripple, and this made it drop dramatically and return to low prices. Really, this is really bad.

[Kanji 965]

@cryptovlek @kikifam @abd1992

I think  its a case of trying to bring it down, its evident Ripple is the most promising, there is a lot of work to which we need to spell this one , most people find it difficult to even understand why SEC would do that, I have been using ripple but this is a case I would like  to study and the right thing to do is to make sure that its officially adopted , just as I wait to see the what libra is going to look like

[lari0695 13]

Without a doubt, the fact that some crypts can be observed by the authorities of large countries, such as the SEC, generates this type of event, such as the enormous drop in the value of the XRP token.

[cryptovlek 2597]

On 1/12/2021 at 9:16 PM, Emanuel 12 said:

So this is why riple will be removed from most exchanges. I dont know why they did this and ripple was one of the best coins out there to use with very low fees and very fast rates. This can even cause the end of ripple which will be very bad for the crypto world

I agree about the speed and fees of Ripple, it was fine to use it, but the problem is that Ripple kept moving XRP from their wallets and selling for many years. This made the founding members very rich, in terms of billions of dollars, while the price was always dumping and there were many investors bought very high, having lost most of their money invested. It is also considered by many experts to be a centralized cryptocurrency with the ability to freeze accounts and Ripple having control.

[abohasnn9 2401]

It is really unfortunate that a lawsuit is filed against any cryptocurrency, whether it is Ripple as a currency or any other currency, this will definitely delay the spread of cryptocurrencies in the markets at a slower pace and I ask the stock exchanges not to file any lawsuit against my mother currency because it is the next future Thank you very much

[Asim808 223]

Really  That Was A Bad NewsvAnd Till Now Ripple Is Not Recovered. And Still Its Rate Is Less Then A Dollar. 

Really Sad For The People Who Invested In It. But Its Rate Can Be High In Future. 

[Wanderdark 2178]

There is even more class actions against Ripple and it looks like more trouble awaiting the investors of XRP. However if these cases close in favor of Ripple, I can't imagine the pump in the prices of XRP. I think it may be glorious