In recent days, legal tension between the SEC and Ripple has caused the price of XRP to fall, while the market value of XRP has also been affected, and it has entered the race for fourth place with Litecoin. Litecoin, which comes behind XRP, which has a value of $ 10bn in the rankings, has a market capitalisation of $ 8bn.
The U.S. Securities and Exchange Commission (SEC) announced on December 22 that it would sue Ripple for selling $ 1.3 billion worth of unregistered securities (XRP). Prior to this announcement, XRP’s market capitalization stood at $ 20 billion. As a result of the news announced against XRP in a row, the price and market value of XRP declined significantly.
With the news of the SEC’s lawsuit, some cryptocurrency exchanges such as Bitstamp, OKCoin, CrossTower, Beaxy announced that they had delist XRP. The latest delist news came from the Coinbase cryptocurrency exchange. Coinbase announced that it would suspend XRP transactions entirely on January 19, 2021.
The price of XRP has fallen drastically in the past week
According to CoinGecko data, XRP, which traded at $ 0.45 on December 22, continued to decline along with the SEC Filing Statement and back-to-back delist news. Cryptocurrency, which has fallen by more than 55% in the last 1 Week along with News Feeds, has also fallen by more than 20% in the last 24 hours.