After the news that the largest American exchange Coinbase had delisted XRP, the token fell again to $0.23.
XRP’s market capitalization shrunk again by more than a billion dollars, and now the gap with the fifth-largest cryptocurrency by market capitalization, Litecoin, has become minimal.
Renowned Bitcoin critic Peter Schiff reminded the community on Twitter that XRP lost almost 70% of its market capitalization after the US SEC filed a lawsuit against Ripple and its former, as well as current CEOs Chris Larsen and Brad Garlinghouse.
The fact is that the regulator came to the conclusion that XRP is an unregistered security.
“Ripple has dropped below 20 cents, although it has traded above 60 cents earlier this month. Almost 70% of its market capitalization disappeared in less than a month only on the basis of the SEC’s assertion that it is a security. What happens to the price of Bitcoin if the SEC next declares it to be a security?”
To the disappointment of the critic, the SEC has already issued a statement that Bitcoin and Ethereum are not securities, because they have a decentralized nature.
