Cryptocurrency XRP Drops Again in Wake of SEC Ripple Lawsuit
XRP plunges further after the SEC sues Ripple Labs, alleging the blockchain company sold more than $1 billion of XRP tokens without registering with the agency.
Author:
Original:
Dec 23, 2020
The price of cryptocurrency XRP plunged again on Wednesday after the Securities and Exchange Commission filed a lawsuit alleging that Ripple Labs, a blockchain company that supports the digital currency, sold more than $1 billion of XRP virtual tokens without registering with the agency.
XRP was down more than 30% at less than 34 cents on Wednesday, according to data from cryptocurrency market site CoinDesk. The virtual currency fell as much as 17% on Tuesday after Ripple proactively announced the expected legal action and said it would fight it.