XRP downs over 40 percent in 48 hours as exchanges delist amidst SEC controversy

By: Dickson Arinze

December 23, 2020 3:13 PM

Ripple (XRP) trading price goes bearish after it was earlier revealed that SEC has filed a lawsuit against it, with a few cryptocurrency exchanges having halted trading of Ripple. So far the big exchanges are keeping fingers crossed but three small exchanges, namely OSL, Beaxy and CrossTower have halted Ripple trading with more exchanges likely to follow suit in the foreseeable future until the formal court decision is release.

The SEC alleges Ripple of paying money to exchanges to permit the "buying and selling of XRP" on their platform. 

Recent reports by coinnewsafrica on SEC Filling XRP

Barely four days ago, XRP which is at $0.302565 at the time of publication recorded a trading high of  $0.601961 with lots of positives around it prior to this report from SEC.

Hailey Lennon, a partner  at Anderson kill, 
said:

    "You know who is at risk if XRP is considered a security? EVERY EXCHANGE THAT LISTS XRP."

On account of this, most cryptocurrency exchanges are hopeful the filed suits goes in favour of Ripple to avoid sanctions or penalty for listing it, with many traders staying off XRP trading.