XRP Price Dives After SEC Files Charges - page 5.

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Quote from: cryptoaddictchie on December 23, 2020, 08:27:07 PM

Quote from: bbc.reporter on December 23, 2020, 08:02:09 PM

@cryptoaddictchie. Too many? Can you list them? I have not presently seen exchanges delist XRP, however, I speculate American exchanges might be talking to their lawyers for advice hehe. I predict Coinbase and Kraken to delist XRP before 2021.

Hello yes it is below are some of those.

1. Beaxy
2. OSL
3. Cross Tower

I believe major global exchange will soon announced too but it will take time. Some of the related news about these delist or suspension. Check them out.

https://medium.com/beaxy-exchange/beaxy-exchange-xrp-announcement-53fb9af60d25

https://twitter.com/osldotcom/status/1341660658123751425

Delisted from 3 unknown and might be unbanked exchanges is nothing, I reckon. We should wait for Coinbase and Kraken's delistings because the people behind them have interests on Ripple.

To let everyone know, the VCs and other investors of Coinbase and Kraken's Jesse Powell have also funded Ripple Labs.

JollyGood

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It could take years for the case to settle and while the process of the case and the appeal goes through due process in court people will be buying and selling XRP. Right now there is still trading going on with XRP pairs so it is not looking too bad: https://coinmarketcap.com/currencies/xrp/markets/

Quote from: Coyster on December 23, 2020, 11:12:28 AM

Just as big events such as halving for example most times causes an appreciation in price of a cryptocurrecy, so does a bad news result in a plunge or a total collapse, this law suit is going to bring ripple down and tbh I doubt they'll be able to recover from it, quite a lot of people have pulled out and are still pulling out of the network to cut their losses, it's indeed a bad period for big time ripple holders.

For as long as this case lingers, the demand for XRP will prolly be zero, and when a crypto lacks demand for it, it's more or less is a dead coin, I'll honestly want to see how long this case goes on, the verdict and what the future holds for ripple, if any at all.

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Quote from: WLtoys V912 on December 24, 2020, 03:51:18 PM

Unfortunately, I bought $100 worth of XRP a few days ago @ $0.36 and it is not worth about $0.26!! This is the problem with most centralized coins. A wrong decision by a person or some organization will ruin the investors' efforts.

What do you recommend me to do now? Do you think Ripple will rise sooner or later?
Should I hold my coins or is it better to sell them as soon as possible to prevent further damage to my investment?
What about converting it to other coins to compensate for losses? (This is hardly possible now because all coins are expensive now)

We can't recommend you anything. You have to do your research before or after you invested. I had sometimes invested $1000 in Ripple and I couldn't hold for more than one hour.
Right now there is a wait and see stance from the remaining investors. If Coinbase goes and delists it, then it will be over. Only inside traders will know, another terrible result of centralization.

satsmainman

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SEC is pulling the rug here! I hope XRP firm finds an amicable way to resolve this tussle with them. truth is the SEC is gonna enjoy dragging the firm all around, which will cause investors to gradually be losing interest while price will consequently keep falling. I short my little bag because i cannot afford to go under water, not this time that every penny matters.

WLtoys V912

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Unfortunately, I bought $100 worth of XRP a few days ago @ $0.36 and it is not worth about $0.26!! This is the problem with most centralized coins. A wrong decision by a person or some organization will ruin the investors' efforts.

What do you recommend me to do now? Do you think Ripple will rise sooner or later?
Should I hold my coins or is it better to sell them as soon as possible to prevent further damage to my investment?
What about converting it to other coins to compensate for losses? (This is hardly possible now because all coins are expensive now)

decodx

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Quote from: electronicash on December 24, 2020, 03:20:52 PM

is there an exchange that delisted xrp already? its been listed to all exchanges actually.

As far as I know, only a few small exchanges have already deleted xrp. But I suspect the number is going to increase as time passes.
I don't believe that US-based exchanges will take the gamble.

Bighero76

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Coinbase to delist it within 10 days

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Quote from: Altcoinsintel on December 24, 2020, 03:09:15 PM

The price dropped more on fears of delistings from regulated exchanges like Coinbase or Kraken. XRP may dump another 50% in case it is delisted from any of the top exchanges.

Perhaps more of these centralized company run cryptocurrencies will follow. Centralization was always the reason for failures of digital currencies before Bitcoin. Satoshi solved this problem by adding the decentralization proof of work system that wasn't even considered and since then only a couple of blockchains can be considered close to being as decentralized as Bitcoin.

is there an exchange that delisted xrp already? its been listed to all exchanges actually.

if theyare going to battle with SEC, do they have the chance because it also make sense when they say XRP is a currency and just by XRP listed on coinmarketcap means it is a currency.

Altcoinsintel

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The price dropped more on fears of delistings from regulated exchanges like Coinbase or Kraken. XRP may dump another 50% in case it is delisted from any of the top exchanges.

Perhaps more of these centralized company run cryptocurrencies will follow. Centralization was always the reason for failures of digital currencies before Bitcoin. Satoshi solved this problem by adding the decentralization proof of work system that wasn't even considered and since then only a couple of blockchains can be considered close to being as decentralized as Bitcoin.

IkonaDro4ku

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To be honest, I'm not very good at all these legal matters but I still believe that everything will be fine for ripple I think the ripple team already knew about this outcome in advance and now when they are still caught, they somehow pay off and everything will be fine.

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Quote from: JollyGood on December 23, 2020, 10:06:58 AM

At the time of creating this thread the XRP price is $0.34 and it is over 30% down in the last 24 hours. The SEC has filed a lawsuit against Ripple and things are going to take a long time to settle because Ripple intend on fighting the allegations in Court.

------------------------------------------------
Here is what the BBC news website stated: https://www.bbc.co.uk/news/technology-55415350

Crypto-currency firm Ripple has been charged with conducting investments without proper licences by the US Securities and Exchange Commission.

The SEC asserted that Ripple's XRP token is a tradable asset, known as a security, and thus subject to regulation.

The firm argues that XRP is a currency and therefore does not have to be registered as an investment contract.

The value of XRP fell by more than 30% on the news.
------------------------------------------------

More links:

https://www.cnbc.com/2020/12/23/cryptocurrency-xrp-plunges-25percent-after-sec-files-lawsuit-against-ripple.html
https://www.ibtimes.com/why-sec-suing-ripple-what-know-about-xrp-lawsuit-3108368

Feeling really bad for xrp holders as I have been through similar situation in the past when the dropil project faced the similar charges and my 2 eth investment went to valueless. I think SEC should be careful with such actions and make sure investors are not hurt and they should follow these things internally atleast till they think that things cannot be corrected.

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Quote from: jacafbiz on December 23, 2020, 10:54:04 AM

This is what we have been saying for sometime that XRP is a security and this could be the beginning of the end for XRP, I have a feeling Binance is likely going to delist it because Binance too have her own issue boiling underground with SEC, and they need to clean house and by doing so, means delisting projects that is perceived to be XRP. I believe XRP will fight this but likely going to lose

This is just a prediction still, I believe that XRP won't go down because of SEC, there will be more diving in value because of weak investors but XRP can beat this difficulty, it's time to actually see how strong XRP can be, if they win this fight XRP will be even better, let's wait to see what comes next

gurunanakji777

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XRP dropped hard in the last somedays due to the SEC charges So some investors lose trust in XRP for the time being. Now its not the right time to buy the XRP. In the coming time, XRP has to face many challenges to maintain its value and trust because I believe it will take longer to settle the SEC issue.

ancafe

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Quote from: jacafbiz on December 23, 2020, 10:54:04 AM

This is what we have been saying for sometime that XRP is a security and this could be the beginning of the end for XRP, I have a feeling Binance is likely going to delist it because Binance too have her own issue boiling underground with SEC, and they need to clean house and by doing so, means delisting projects that is perceived to be XRP. I believe XRP will fight this but likely going to lose

well, if Binance delisted XRP, I think it will be a nightmare for the XRP barrier. that's because it will cause a follow-up dump which I think will get even worse. after all, the effect of the SEC has had a profound effect on the current price of XRP. I think XRP holders will have to wait again to see the XRP price hit $ 1 again.

bitterguy28

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common reaction of Some investors to keep safe their funds because These issue has been around for long and many XRP believers are still Looking close to this because at any chance XRP can be dumped by single person.

But rumors also there that this is a Manipulation strategy to make the value at full dump ,Like what happens in Litecoin after the Selling.

But look at litecoin now,getting closer regaining the former rank3.

tbct_mt2

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Quote from: jacafbiz on December 23, 2020, 10:54:04 AM

This is what we have been saying for sometime that XRP is a security and this could be the beginning of the end for XRP, I have a feeling Binance is likely going to delist it because Binance too have her own issue boiling underground with SEC, and they need to clean house and by doing so, means delisting projects that is perceived to be XRP. I believe XRP will fight this but likely going to lose

Binance can delist Ripple (if the suit is real and go onward more seriously) but if it is what Binance takes into their decisions, it will be applied for their Binance global and Binance US. Honestly I realized how wise and smart the CZ is when he made his tweet in 2019 that he needs to be careful with any strict regulations from the US government and agencies when he saw the risk from coming commercial war between the USA and China.

After that tweet, Binance changed their strategies to launch some national exchanges as their preparation for any bad regulations on global exchange. Now, the life is proving his switch is very wise and was taken ahead of time.

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Quote from: bbc.reporter on December 23, 2020, 08:02:09 PM

@cryptoaddictchie. Too many? Can you list them? I have not presently seen exchanges delist XRP, however, I speculate American exchanges might be talking to their lawyers for advice hehe. I predict Coinbase and Kraken to delist XRP before 2021.

Hello yes it is below are some of those.

1. Beaxy
2. OSL
3. Cross Tower

I believe major global exchange will soon announced too but it will take time. Some of the related news about these delist or suspension. Check them out.

https://medium.com/beaxy-exchange/beaxy-exchange-xrp-announcement-53fb9af60d25

https://twitter.com/osldotcom/status/1341660658123751425

bbc.reporter

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@cryptoaddictchie. Too many? Can you list them? I have not presently seen exchanges delist XRP, however, I speculate American exchanges might be talking to their lawyers for advice hehe. I predict Coinbase and Kraken to delist XRP before 2021.

cryptoaddictchie

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There are too many exchanges announcing delisting of xrp and many will follow too. Not sure why Binance still lingering maybe they're too close for that to break the bond right away. Not sure what the hell is the deal with SEC. They destroying xrp now while letting it ride for the flare Snapshot without any hassle. I've smell something fishy here. Maybe xrp will go down and time for guys to buy later and win the court? Seems like a smooth play.

With this, market got affected and sudden price crash happened already.

bbc.reporter

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I am quite certain other cryptofunds and crypto asset managers have begun to dump their XRP also and I speculate that exchanges might begin to delist this. No one will be risking their licenses for allowing trades of an illegal security.

Also, the articles have mentioned that the SEC has sued Ripple. This appears that a judge will determine if XRP is an illegal security or not. The decision might become a legal precedent on many cases regarding if a cryptotoken is an illegal security or not. We should hope Ripple wins this case.

Crypto asset manager Bitwise has liquidated the XRP position of its crypto index fund.

Bitwise said the move took place in light of the U.S. Securities & Exchange Commission (SEC) has alleged that XRP is a security.

Bitwise said its crypto index fund "does not invest in assets that are reasonably likely to be deemed securities under federal or state securities laws."

Source https://www.theblockcrypto.com/linked/89018/bitwise-crypto-index-fund-xrp

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