If you possess XRP in your crypto assets, I’m pretty sure you are highly concerned about its future. Should you sell your XRP right away? Or should you wait for its rise? Continue reading and find out.
Back in December, XRP, the cryptocurrency centralized by Ripple Labs faced the greatest downfall of its lifetime, losing half its value and settling near just $0.23. Many investors including me, are already concerned about the future of XRP it’s heading towards. Is XRP dead? Will the XRP price continue to fall? Should you sell your assets before XRP price slashes even more? I’m pretty sure these questions have hit your radar on hearing the recent XRP news.
Even the steep downfall of XRP didn’t affect much of its position. As of writing this article, XRP is still hovering in the 5th position in terms of value, with $13.7B in Market Cap. Now as more and more crypto investors and analysts are questioning the fate of XRP, it’s important to dig into the roots of the problem. What exactly did cause the sudden downfall of XRP? Many small-scale crypto exchanges have already removed XRP from their platform. Is it the end?
THE LAWSUIT BETWEEN SEC & RIPPLE
Before that, we should first understand the ‘Ripple vs SEC’ controversy. The value of XRP dropped by half following the lawsuit filed by the US Securities & Exchange Commissions (SEC) against Ripple Labs and its two executives, claiming the illegal raise of $1.3B in unregistered securities offerings. This led to the halt of this popular token from leading exchanges. The SEC has also stated that any exchange that still allows XRP is potentially breaking the law.
Just like any other lawsuit, there are two outcomes; either Ripple Labs wins, or the SEC gets away with their XRP lawsuit. Without getting tangled into, let’s understand what will happen if either of them ends up victorious. Yet, we cannot foreshadow the dead-end for XRP, and Ripple as well. Legal counsel for the accuseys - Ripple Labs Inc, CEO Bradley Garlinghouse and Co-founder Christian Larsen - will be appearing before Judge Analisa Torres on 22nd Feb
SHOULD YOU SELL YOUR XRP HOLDINGS?
During this intense moment for crypto investors, not everyone is dealing away with their XRP assets, instead, some have realised this downsurge as an opportunity of grabbing XRP at its lowest price. However, I suggest holding your decision as 22nd February is still an entire month away. I believe the crypto industry is still an emerging market for investors, and that’s true, especially for cryptos like XRP, now that the XRP price prediction is nearly impossible.
As to whether you should sell your XRP holdings, I would leave that decision to my reader, you. Please remember, your decision shouldn’t be constituted by any financial advice, and you should treat this article as the supplementary information to add your existing unbiased knowledge base. So what’s your opinion on the future of XRP it’s heading towards? Let us know in the comments below. And be sure to follow and share our blog for more exciting updates.