The next low blow: Grayscale dissolves the XRP trust!
- Next bad news: Ripple remains in crisis mode
- What impact will the ripple crisis mode have on other altcoins?
Ripple, which has been in crisis mode for weeks, has to take another low blow: After the Securities and Exchange Commission, the US supervisory authority, filed a lawsuit against the company, an avalanche of bad news followed. Not only did the investors claim their money back, there were some well-known exchanges that then stopped trading with Ripple. Coinbase, for example, has declared that it will no longer offer XRP. And now Grayscale has announced that the XRP Trust has already been dissolved. The reason? The SEC's lawsuit.
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91 percent away from the all-time high
If you follow the price development of the cryptocurrency, it is clear that not only are you more than 91 percent away from the all-time high, but there are also no indications that the price of Ripple will noticeably increase in the foreseeable future.
Compared to the previous year, Ripple is up - the price is 25 percent higher today than exactly a year ago. However, looking at the more recent past, one notices that there have been drastic drops compared to today: the price was almost 30 percent higher 38 days ago; seven days ago the price was 10 percent higher than it is today.
The outlook is anything but positive. It is still unclear how the court will handle the SEC's lawsuit. A decision against Ripple would put the cryptocurrency in an extremely difficult situation - and it remains to be seen whether a possible decision against Ripple would also affect other Altcoins (or even Bitcoin).