Ripple XRP Is The Next Target
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After the FTC and SEC sent out over 10,000 letters to crypto owners about making sure they report their earnings it seems like they have now shifted their sites on to a new coin.
That coin being XRP or Ripple which makes sense due to its popularity and sheer amount of madness that has gone on with this coin in the past.
This is in the wake of Bradley Sostack who is taking Ripple to court saying they sold unregistered securities. This does make sense when you look back at how Ripple and XRP started which was all coins where premined and the company slowly releases them as they wish. Almost like a bank printing money.
XRP currently stands at 12.5 Billion in market cap but has seen continued sell off an no real rally / movement all year after continued promise after promise have vanished from the company.
Could this spell the end for XRP once and for all ?
Do you feel Ripple has held up their end ?
Do you feel Ripple will lose this lawsuit ?
I bought a chunk of Ripple back int 2013 and tried the trading platform for a couple of months. People were creating currencies and trading them for bitcoin. Fun at first. I did not stay because there were times when I could not sell a position, but only a portion of my holdings.
I was told that I had to find the creator of X currency or the other creator of Y currency in order to sell out my holdings in that currency, to essentially "undo" the trade I had made months earlier. Complete insanity. So that is when I quit.
I would not be surprised if they just end up settling and dumping a bunch of it on the market to pay for it!