Ripple down close to 70% from start of December

Ripple and Two Executives charged for fraud

On 22 December 2020, Ripple and its Two Executives were charged with Conducting $1.3 Billion in Unregistered Securities Offering. This has lead to a huge decline in the price of Ripple. Currently sitting at $0.24 and 0.00000890 BTC. In November, it reached its highest point in 2 years, and right after that, the news broke about the charges. The yearly close does not look too good if it continues to decline in this manner. Something to remember is that only one side has been heard at this moment. The market’s reaction is only on the claims that they should be involved in any fraud scheme. The CEO of Ripple, Brad Garlinghouse, has made a tweet stating, “A very important reminder!  Thus far the world has heard the SEC’s version of reality. The legal process will unfold from here and the world will have a much more robust and complete picture of the facts soon.

Could it be a good time to buy Ripple?

This is a double-edged question that is hard to answer, but depending on what you are looking for, it could be a good time to get some Ripple. You might want to wait for some more information though. It will depend heavily on the outcome of the lawsuit and how all the exchanges handle this. One scenario is that the exchanges terminate all trading and purchasing of Ripple. This scenario is pretty unlikely, but it could happen for a period of time. If Ripple comes out ahead from the lawsuit, the price could surge right after the news breaks. In that case, it could be a good time to sell some of your holdings and wait for the dust to settle before considering how to do doing forward.

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