SEC's lawsuit against Ripple, how fast can XRP dump?
The lawsuit, filed today in a Manhattan court, alleges that Ripple has raised $1.3 billion in unregistered securities offerings since 2013.
Source
I might have been late on the breaking news on this one but not too late for a catch up. So it appears Ripple faces lawsuit from the SEC for selling $1.3 billion worth of unregistered XRP.
Brad Garlinghouse however feels this is an
attack on the entire crypto industry and American innovation
Vitalik Buterin's take on the issue...
Looks like the Ripple/XRP team is sinking to new levels of strangeness. They're claiming that their shitcoin should not be called a security for *public policy reasons*, namely because Bitcoin and Ethereum are "Chinese-controlled". 😂😂https://t.co/ts02JqrTrB pic.twitter.com/mKwEzGIetk
— vitalik.eth (@VitalikButerin) December 22, 2020
It is interesting to see mixed reactions from the Buterin tweet.
XRP have seen a negative 31.1% dump within the last 24 hours according to Coingecko with each coin now trading at $0.33 from a peak $0.49, Tuesday 22nd Dec.
Panic selling is expected in this case causing more dump.
Personally for me I own no XRP and have no desire to own any. Good luck to all XRP holders.
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Oh no.
I have some and the price is dropping fast.
Thanks for the info.
Hahaha sounds like you are going to dump!
Yeah.
Just sold all though loss some money