ripple xrp Ripple labs and XRP are falling fast, but it recovers!

[Obliv0n 333]

The last few weeks have been a feast of bad news for ripple labs and its XRP coin.

 

Currently uncertainty drives the market due to the lawsuits filed by the SEC, which has alienated some exchanges that decided to remove XRP from their platforms.

 

Along with this, the Tetragon group has decided to initiate legal action against ripple in order to obtain a refund for shares or bonds that they acquired during 2019.

 

In the same way, it was reported that the number of XRP whales (that is, those individuals or wallets with more than 1 million coins) has decreased since the sec demand was announced, officially the number of whales was 1721 and it was reduced to 1567, making it clear that some decided to liquidate their funds.

 

Additionally, GreyScale announced that its XRP-based mutual fund would be withdrawn from the system and that the funds would be sold for the purpose of buying more BTC, BCH and LTC.

 

For now, the coin is recovering but what does 2021 hold for XRP?

 

The outlook for Ripple Labs and XRP is not encouraging, will it be the end of the banks' currency, will this be a failure for centralization?

What do you think friends, I read them!

Edited January 7, 2021 by Obliv0n
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[estmerbol 257]

The outlook for xrp looks very dark, I really liked this token, it promised a lot and had good growth but the definitive end of this project could be fulfilled. Perhaps the managers will have to start over. But it is very likely that the trust is not the same.

[Kami505030 1617]

There is now no chance for XRP to come back in the market to fight with other big crypto currencies. It is very difficult for traders now to believe on this currency again and there will be no investor who take risk and buy xrp. The life of this currency is no more.

[Obliv0n 333]

18 hours ago, Kami505030 said:

There is now no chance for XRP to come back in the market to fight with other big crypto currencies. It is very difficult for traders now to believe on this currency again and there will be no investor who take risk and buy xrp. The life of this currency is no more.

Sure, but that is one of the peculiarities of the cryptocurrency market, a few days ago we all gave up xrp for dead, but currently it is proving otherwise, it had an increase of 38% that is attributed to the altseason, despite its the legal problems , strives not to end up at the bottom.

[cryptovlek 2597]

I noticed a recovery in the price lately. It puzzled me as I thought XRP wasn't going to be pumped any more but it was. But exchanges will start delisting soon as Coinbase already announced it will stop trading in a few days. I see risk in XRP and don't think it will be a good investment with current conditions.

[bogdanoff 3173]

Since Ripple is in so much trouble any recovery will be impossible. Ripple can do only that rise a little following the altcoins rise and then drop as there is speculators that will keep selling at any bad news. It looks that XRP will become a deadcoin soon if Ripple keeps having control of more than half the coins and keeps selling.

[Sykkuno 2887]

I have noticed recovery for price and some moves by the xrp community that seem to be strange to understand. Ok, I know that everyone loves their bags and hope they will sell their xrp higher, but I don't understand why they don't accuse the Ripple executives that did all that. Every month we remember Ripple selling, why they didn't say anything about that and just try to excuse what Ripple was doing. Seems to be not very honest from those that do that.

[Obliv0n 333]

1 hour ago, bogdanoff said:

Since Ripple is in so much trouble any recovery will be impossible. Ripple can do only that rise a little following the altcoins rise and then drop as there is speculators that will keep selling at any bad news. It looks that XRP will become a deadcoin soon if Ripple keeps having control of more than half the coins and keeps selling.

@bogdanoffIt is true, I did not remember that monthly Ripple labs sells millions of coins to increase the supply, so if that is mixed with the current situation and speculators, then we will have the perfect cocktail so that XRP never rises again, it is a shame , it is a good project with low commissions.

[miskyming 1588]

In my opinion the reason why XRP recovers it's because of bitcoin, as you can see bitcoin is now $41,000 not just bitcoin reaches high price but the altcoins as well, seems we already in the bull run. With this current condition of the market I don't think XRP will suddenly fall again. 

[percare 3192]

It could be that Ripple makes it in the end. I don't pay a lot of attention after some exchanges as Bitstamp and Coinbase decided to stop the trading at a future date, I think that XRP still has a chance but maybe it would be better for Ripple to burn the rest of the XRP supply they hold. Otherwise XRP will always be a commodity sold by Ripple.

[Khan 1414]

On 1/7/2021 at 12:55 AM, Kami505030 said:

There is now no chance for XRP to come back in the market to fight with other big crypto currencies. It is very difficult for traders now to believe on this currency again and there will be no investor who take risk and buy xrp. The life of this currency is no more.

Ripple will be back with a bang and XRP is trying it already, as no one want to lose his business after reaching/coming this far. Ripple is consider the 3rd top coin in the crypto world.

[cryptovlek 2597]

On 1/6/2021 at 3:56 PM, Obliv0n said:

the Tetragon group has decided to initiate legal action against ripple in order to obtain a refund for shares or bonds that they acquired during 2019.

Ripple offered shares to a private investor? Is it shares of Ripple or was it XRP they sold. This is very interesting and probably this investment by Tetragon may have to be refunded if they have taken legal action. More bad news for Ripple, however if there is no Xrp involved maybe it will not be a big matter. The delistings and SEC were bigger problems.

[Dang3r 103]

I consider XRP for dead, today GreyScale announced that it will liquidate its entire investment fund based on XRP before January 15, the day on which the markets will be totally closed in the United States, although it is true what another public has, the fact demand will not go away.

[tienda 8776]

XRP and Ripple Labs fallen and missed their credibility, if they are recovering because the Bitcoin price still rising and other cryptocurrencies also. But if the Bitcoin price start dumping and down to the lower value, we will see the XRP price around 0.1 USD or minus.

Edited January 14, 2021 by tienda
changed "and missing" to "and missed"

[Syedbesharat 5423]

Well the XRP is not going down easily but the rumors are effecting the negative impression from lawsuit is making hard for XRP to recover. People like me want to buy XRP and support but the articles and news are making it hard but we have trust on XRP and it will not gonna down without cleaning the matter. This project was god and have very low fee for transaction they have made contracts with many famous companies and banks so far I see those partners are not gonna sit ideal and watch their invest burn to ashes. 

[Obliv0n 333]

1 hour ago, tienda said:

XRP and Ripple Labs fallen and missed their credibility, if they are recovering because the Bitcoin price still rising and other cryptocurrencies also. But if the Bitcoin price start dumping and down to the lower value, we will see the XRP price around 0.1 USD or minus.

That's what I was thinking, I consider that the stability that it currently has is just an illusion driven by the price in satoshis that it has, if the btc rises then XRP shows a tendency to "recover" however, news like today where some institutions decided to sell all his funds in XRP prove that Ripple is definitely doomed.

[yonkii 3205]

Maybe the XRP has found a bottom, but I won't be risking any investment for this asset. It has a very negative outlook and it can easily go down lower if more negative news appear. We should not forget that generally no Bitcoin owner likes XRP, everyone actually targets their wrath against Ripple and it was always being called centralized and scam by the Bitcoin community. It can go higher from 0.3 but it is more possible that it will go very lower so I am not going to risk with XRP.

Edited January 15, 2021 by yonkii

[Froshk 1828]

XRP coin is gradually recovering after suffering a massive decline some few weeks, and these was due to the SEC sueing it. 

[M.Asif 499]

In my views ups and downs are common thing in any currency values but as xrp fall during last days most of peoples were dishurt that it will never came up and they have to face many problems and can lost their store coins,but as you can see xrp has rise to many steps up and encouraged many investors.

[Obliv0n 333]

2 hours ago, M.Asif said:

In my views ups and downs are common thing in any currency values but as xrp fall during last days most of peoples were dishurt that it will never came up and they have to face many problems and can lost their store coins,but as you can see xrp has rise to many steps up and encouraged many investors.

Of course, in fact today the XRP showed some growth, thus challenging the trend that it was supposed to follow, however the threat posed by demand is still standing and therefore, although it grows, it returns to the beginning, that is, its price is totally stagnant. .

[Raqeebzy 6456]

With the SEC lawsuit and also few delisting from some good exchange, Ripple has gone more than 6%+ compared to previous month. To me I would say that's some signs of resilience and once the lawsuit goes in its favour, we would see a recovery and a bullish trend. I think that's just what we should look forward to and I really hope for the best. 

[Khan 1414]

On 1/21/2021 at 4:38 PM, Artem Dzyuba said:

There's now no hazard for XRP to come back again inside the market to fight with other huge crypto currencies. It's miles very difficult for buyers now to consider in this forex again and there might be no investor who take chance and buy xrp. The lifestyles of this currency isn't any extra..........

You are right as in the start there was a chance to comeback but when the news "XRP owner sell Millions of XRP" appear on the internet, the price of XRP fall down more.

[annayks 2314]

Only bad news for XRP and it doesn't recover. I don't know how Ripple will manage, if they manage to find common ground and make it up for the billions of dollars that were dumped on the investors of XRP. Nobody likes a bunch of people making billions when investors lose all their money.

[kyoukage01 3181]

On 1/15/2021 at 2:39 AM, Syedbesharat said:

Well the XRP is not going down easily but the rumors are effecting the negative impression from lawsuit is making hard for XRP to recover. People like me want to buy XRP and support but the articles and news are making it hard but we have trust on XRP and it will not gonna down without cleaning the matter. This project was god and have very low fee for transaction they have made contracts with many famous companies and banks so far I see those partners are not gonna sit ideal and watch their invest burn to ashes. 

Here's a fresh news that comes in just now: Ripple is going to fight back on the lawsuit by the SEC.

 

Spoiler

Ripple formally responds to SEC lawsuit

Ripple has accused the Securities and Exchange Commission of distorting the facts about the status of its cryptocurrency XRP in its first formal response to a regulatory lawsuit filed in December.

In its action against Ripple Labs Inc. and two of its executives, the SEC alleged that they "raised over $1.3 billion through an unregistered, ongoing digital asset securities offering".

Since the SEC filed its complaint, XRP has lost almost half of its market value, as investors cashed out their holdings in favour of less contentious assets.

In its formal response, Ripple contends that XRP is a cryptocurrency and therefore outside the SEC's jurisdiction.

It points to recognition of XRP as a virtual currency by the UK’s FCA, and regulators in Singapore and Japan and argues that the SEC is asking the Court to contradict the findings of the agency’s peers in the US and worldwide.

It also claims that the SEC has distorted the facts to build its case, using cherry-picked quotes to draw conclusions that are "unsupported by both the facts and the law".

Andrew Ceresney, outside counsel to Ripple from law firm Debevoise & Plimpton, states: “The SEC’s case is unprecedented and ill-conceived. The SEC has ignored XRP’s clear status as a virtual currency, contradicting not only the findings of other U.S. regulatory agencies, but also international regulatory regimes. Over the last eight years, the XRP market, independent of Ripple’s activities, had grown to a massive scale- trading on over 200 exchanges worldwide. The SEC is now stretching the concept of an 'investment contract' beyond its breaking point. We look forward to presenting our case in Court.”

source: https://www.finextra.com/newsarticle/37387/ripple-formally-responds-to-sec-lawsuit

 

I haven't seen the details in the lawsuit submitted by the SEC, as I think many of us are. But if it's true that the SEC "distorted facts" and "cherry-picked" quotes as Ripple is trying to point out, then it would feel like the SEC is out on a vendetta against crypto, and it just so happens that they've currently set their sights on XRP. But Ripple is not going down without a fight.

 

There are now two scenarios:

• If XRP gets convicted by the SEC lawsuit, then significant effects will happen in the crypto world. Remember that XRP is a top altcoin.
• But if Ripple wins the lawsuit, then expect XRP prices to rise again. Anyone who had faith in the coin should be expecting profits in return.

It might take a few months for a court decision. We should wait for that news.

 

P.S. @Obliv0n you should update your topic with this news as well.

 

Edited February 3, 2021 by kyoukage01

[kryptonick 2659]

The way I see it, there will be a settlement and nothing will change, except the only thing will be Ripple having to report to SEC whenever the company moves funds out of the vaults to sell in the crypto markets. Maybe SEC will tell them to limit the sales or something like that and ask for a very big fine for the years that Ripple was selling the XRP, in a way that made billions of dollars for the Ripple founders.