Cryptocurrencies: ripple abandoned, XRP continues to fall

The Ripple community, also known as the « XRP Army », has to say goodbye to reference platforms for buying, storing and selling cryptocurrencies. Since the Securities and Exchange Commission’s legal attack that blamed the nature of XRP, the premier US financial regulator has drawn big names like Coinbase and Bitstamp.

Ripple was on the brink at the end of the year, but now its digital tokens haven’t even waited until 2021 to begin their fall. After falling 40% last week, Ripple fell another 37% today. It did so when Coinbase announced the withdrawal of cryptocurrency from the platform, which will go into effect in January. While more than 35 million users can no longer place orders in the market.

The ripple continued to decrease towards the end of the year © Apple Bourse

Several dropouts

Several dropouts

The list is getting long. Coinbase joined BitStamp, one of the first platforms to make their decision. Last month, Ripple alienated the Ripple community when it published a report by the cryptocurrency analyst firm Messari. For its forecasts for 2021, in addition to Stellar Lumens (XLM) and Litecoin (LTC), it also compared XRP with « toxic waste ».

If you are using any other platform to buy and store your cryptocurrencies, we strongly recommend that you check out the latest versions of that platform. The number of services leaving Ripple may be significant. For example, there are: B2C2, Crypto.com, or even OKCoin that have or want to remove XRP from their list of assets available for purchase.

Ripple doesn’t want to stop there

Ripple doesn't want to stop there

However, Ripple and his two co-founders do not want to stop there in court against the gendarme of the US markets. As a reminder, the SEC sees XRP as a stock more resembling that of a stock than a digital currency, and so would represent all negotiations on the price of XRP and $ 1.3 billion in fundraising. of Ripple Dollars as completely illegal.

Brad Garlinghouse, one of the two co-founders, said last week he was facing an attempt to regulate the entire cryptocurrency world. For him, the price of XRP has nothing to do with parent company Ripple’s business, and the owners of XRP have no stake in the company. To potentially go (the price of XRP is back below $ 0.20), Ripple could relocate its headquarters.

Cryptocurrencies: ripple abandoned, XRP continues to fall
4.9 (98%) 32 votes