XRP Plunges After SEC Files Lawsuit Against Ripple
The Securities and Exchange Commission has filed a lawsuit against Ripple, which has ties to the cryptocurrency XRP. As a result, the cryptocurrency‘s price plunged by about 25% this morning to about 35 cents, according to data from CoinDesk. Q3 2020 hedge fund letters, conferences and more XRP fell by up to 17% on Tuesday after Ripple announced that it was expecting the lawsuit and would fight back against it. SEC files lawsuit against RippleThe SEC alleges that Ripple carried out an unregistered securities offering amounting to $1.3 billion. The agency filed a lawsuit against Ripple and two ...