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The fourth most capitalized cryptocurrency on the market collapses after accusations by the US regulator.


The #Ripple project experienced a 13% decline on #Tuesday and accumulates a 43% weekly drop.

The value of the cryptocurrency XRP, issued by #Ripple #Labs and one of the most traded in the world, has continued its plummet this week, after the exchange platform #Coinbase announced the cessation of operations with it.

The fourth most important cryptocurrency in terms of market capitalization decreased by 13% on #Tuesday and traded at just over 0.2 dollars on #Wednesday morning, accumulating a loss of more than 43% of the value it had last week and more than 70% compared to its maximum of the last month, when #It cost about 70 cents.

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#Coinbase is scheduled to complete suspension of trading with XRP from #January 19. The company announced its plans days after other exchange platforms did, such as #Bitstamp, which will also close XRP deposits to all US clients as of #January 8, and OKCoin, where similar measures will go into effect. effective #January 4.

“#Obviously, this is bad for XRP in multiple dimensions,” estimated on #Tuesday #Kyle #Samani, co-founder of #Multicoin #Capital, whose words #Bloomberg picks up, because there will be “fewer potential buyers and less overall liquidity.” #For XRP to work as #Ripple intends, XRP it must be very liquid, so that is particularly harmful, “he added.

#Like most of its digital peers, XRP lived in the last few months one of its biggest spikes in years, because global investors started betting on cryptocurrencies. #However, a lawsuit against #Ripple and two of its executives filed by the US #Securities and #Exchange #Commission earlier this #December erased most of these gains.

The regulator accused #Ripple of having sold unregistered ‘tokens’ worth at least 1.3 billion since 2013. The authority insists that XRP is a security and therefore should have been registered.

#Ripple called those accusations an “attack on the entire crypto industry” in the US and pointed out that the regulator simply “unnecessarily muddied the waters” and introduced “more uncertainty into the market, actively harming the community it is supposed to protect “. #Issuers hope to resume work with the commissions after the change of government in the #White #House.

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[ source link ]
https://actualidad.rt.com/actualidad/378567-desplome-criptodivisa-capital-mercado

#fourth #capitalized #cryptocurrency #market #collapses #accusations #regulator

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