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XRP is the “third biggest crash of all time”, according to Josh Frank of The TIE


The market capitalization of the XRP token has fallen by nearly $ 130 billion from its all-time high in 2018, which makes the decline of the cryptocurrency project comparable to the collapse of major financial institutions.

#According #Josh #Frank from the cryptocurrency research company The TIE, the project is experimenting a collapse similar to some of the biggest business scandals and catastrophes in recent history.

#At its peak, XRP’s market capitalization was roughly $ 140 million in #January 2018. #It recently plunged below $ 10 billion, an estimated loss of $ 130 billion in less than three years. #This effectively makes XRP’s “crash” the third after the bankruptcy of #Washington #Mutual, worth $ 327 million, and the bankruptcy of investment giant #Lehman #Brothers, a financial collapse valued at $ 691 billion, in 2008.

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“#It is sad and unfortunate that the biggest losers in the series [XRP] be it the individual investors who lost unimaginable amounts of money, “#Frank told #Cointelegraph. “#Ripple’s founders kept dumping their tokens for years and made hundreds of millions of dollars.”

#Following news that the US #Securities and #Exchange #Commission would accuse #Ripple, CEO #Brad #Garlinghouse and co-founder #Chris #Larsen of conducting a “continuous offering of unregistered digital asset securities” for their XRP sales , the price of the token has fallen rapidly. #Cryptocurrency exchanges, including #Coinbase, #Bittrex, OKCoin, #Bitstamp, OSL, #Beaxy, and #CrossTower later announced that they would either suspend XRP trading or remove the token entirely, which would provide additional bearish fuel.

#Institutional players have also started distancing themselves from XRP. The #Grayscale #Investments website says its “private placement in the XRP #Trust is currently closed”, with a #Twitter user stating that the company will also not process any more pending applications for the XRP #Trust.

#At the time of this article’s publication, XRP’s price is $ 0.21, having dropped more than 65% in the last 30 days.

#Keep reading:





[ source link ]
https://es.cointelegraph.com/news/xrp-the-third-largest-collapse-of-all-time-says-the-tie-s-josh-frank

#XRP #biggest #crash #time ##Josh ##Frank #TIE

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