[Sad news] XRP price fell 24% in 24 hours due to delisting of the exchange Cryptocurrency exchange "Binance" plunged 41%

XRP(Ripple)Prices plunged 24% in 24 hours as the exchange began delisting

XRP(Ripple)Price is Binance in the last 3 days(Binance)Crashed by 41%

The price of one of the world's most valuable crypto assets has plummeted

After the US Securities and Exchange Commission's proceedings against Ripple were revealed、Some exchanges already have XRP(Ripple)There is a big turmoil in the cryptocurrency market

News of U.S. Securities and Exchange Commission proceedings against Ripple came to light、XRP(Ripple)Price is Binance in the last 3 days(Binance)It fell 41% above and crashed

According to CoinMarketCap、The value of XRP tokens has fallen by more than 42% in the last 24 hours、Down more than 63% from the last 30 days high of $ 0.76

Currently only 0.25 $

as a result、Some small exchanges already have XRP(Ripple)The inability to trade will incur significant losses for physical holders and Forex traders.

So far、3Two Small Cryptocurrency Exchanges-OSL(OSL)、Beaxy Exchange(Beak Sea Exchange)、Cross Tower(Cross tower)-Is、Whether to temporarily suspend trading、XRP(Ripple)Has been deleted from the trading issue and the transaction has been cancelled.

In response to this、Stock prices of XRP companies also plummeted

XRP on more exchanges(Ripple)May be delisted

According to a prominent attorney in the cryptocurrency industry、XRP(Ripple)Listed exchanges、If the token is considered security、That there is a risk

Hailey Lennon, an attorney who is a partner of law firm Anderson Kill(Haley Lennon)Mr、It states:

“XRP(Ripple)Is considered a security、Do you know who is at risk? XRP(Ripple)Are all listed exchanges”

XRP(Ripple)Listed exchanges, sales offices ...

It ’s a negative story just by imagining it.

Rather XRP(Ripple)Isn't it more difficult to find an exchange or sales office that is not listed?

Joseph Grundfest, who is also an advisor to Ripple, who was appointed SEC Commissioner under the Reagan administration, who served as the 40th President of the United States, said:

"Regardless of the final decision、Just start the crackdown、It will have serious consequences for XRP holders. "

"If it turns out that the SEC intends to file a proceeding、Brokers will stop trading XRP for fear of legal risk. "

SEC(US Securities and Exchange Commission)Is、Ripple pays the exchange、"XRP" on the exchange platform(Ripple)Claims to be able to "buy and sell"

SEC(US Securities and Exchange Commission)According to the official proceedings filed by、Ripple has contracts with at least 10 digital asset trading platforms The proceedings are as follows:

“2017In the year and 2018、Ripple is also、At least 10 digital asset trading platforms (none of which are registered with the SEC、At least two have major offices in the United States)、XRP(Ripple)Signed a contract to provide listing and trading incentives for

Ripple、Pay fees for these platforms、Usually XRP(Ripple) XRP on the system using(Ripple) To be able to buy and sell、Sometimes it provided an incentive to meet trading volume criteria”

XRP(Ripple)Is officially considered a security、Attorney Hailey Lennon(Haley Lennon)Mr、Pointed out that the 10 exchanges cited in the proceedings are likely to bear the greatest risk

Ripple recently、2It has been valued at $ 10 billion after raising $ 100 million.、Although Ripple and XRP tokens are technically different、Ripple maintains a significant portion of the currency's market capitalization、At one point, the XRP token itself was called "ripple"、I also shared the logo with the company

Ripple、XRP is not a security、It ’s actually a tool for financial institutions,、The high volatility、Banks are hesitant to actually adopt this token

On the other hand、XRP is listed on many cryptocurrency exchanges、The scope of the proceedings has expanded、It could have even more impact on the players trading there

Ripple CEO Brad Garlinghouse / Co-founder Chris Larsen "Fight Actively"

Brad Garlinghouse, CEO of Ripple(Blood Garling House)Mr、Co-founder and businessman Chris Larsen(Chris Larsen)He said he would "fight aggressively" to "prove our case."

Brad Garlinghouse(Blood Garling House)He also states

"Completely wrong in facts and law"

"I'm confident that I'll eventually win before the neutral fact-finding investigator."

Brad Garlinghouse(Blood Garling House)Mr、SEC(US Securities and Exchange Commission)There is also the option of individually reconciling with、They emphasized that they decided not to take that route

For that reason,、XRP(Ripple)To formally conclude whether is a security、A final court ruling in the United States will be needed

On some exchanges、Until a formal court decision is issued、It seems that trading will be suspended for the time being

Asian institutional investors conduct bilateral transactions * OTC transaction (Over The Counter), OSL, an exchange of cryptocurrencies, stated as follows

“Ripple Labs Inc. and two of its executives have been enforced by the US Securities and Exchange Commission、All $ XRP on OSL platform(Ripple)Stopped deposit and trading services”

* OTC transaction：Virtual CurrencyTo trade one-on-one without mediating the exchange of

XRP at risk(Ripple)Price "Do or die" situation

From a technical point of view、Traders、XRP(Ripple)Must bounce strongly at current levels around $ 0.35

Or say they are in a "do or die" situation where they have to face more descents

0.35Below the dollar、2020It is likely to drop significantly to early year levels

However、You can't deny a palliative rally

Although it is not the quoted term "buy a straw hat in winter"、I think there are many XRP (ripple) traders who recognize that the crash is the best place to buy.

Repeated surges and crashes like a phoenix

XRP (Ripple) has become something like "live or die?", Which is also a symbol of cryptocurrency.

Bitcoin dominance hits a year's high during the XRP crash

Bitcoin dominance hits a year's high during the XRP crash、The superiority of virtual currency Bitcoin is increasing

By the way, virtual currency (cryptographic asset) Bitcoin (BTC) is、23It plummeted to $ 22,800 a day、24,000Soaring at thunderous speed towards dollar resistance

Bitcoin volatility seems to be maintained