Ripple Price Crash

December 2020 was a time when Ripple (XRP) dropped from around $0.70 to $0.22.

Ripple Price Crash is an event in late December 2020 where the price of XRP crashed badly. The trigger to this crash was a lawsuit filed by the SEC against Ripple’s XRP Crypto currency. There are lots of news sites covering this event. We want to shortly concentrate here on the main reason causing this as well as the future of the Ripple Price.

Compromise is a key for stability

The CEO of Ripple, Brad Garlinghouse, refused to settle things down with the SEC. In our view this is wrong. Markets like stability. When there is fear and instability then usually the prices go down or even crash. In the case of Ripple’s XRP it went down from $0.70 to $0.22. This all occurred in one single month: December 2020.

Learn the wisdom of compromise, for it is better to bend a little than to break.

Jane Wells, 1886

In the past, projects such as e-gold and LibertyReserve failed. They did because the US regulator shut them down. Crypto Currency was about changing that concept. Crypto is about having no limits.

Ripple chose to dance with the devil. On the one hand Ripple wants to collaborate with banks and financial institutions. On the other hand its XRP currency is about being as free as possible.

It is far easier for the SEC to sue a US California based company than to sue “Bitcoin” because Bitcoin owner is anonymous. Ethereum, originally developed by Vitalik Buterin, is an example for something similar. Vitalik created Ethereum but he did not register a US based company later on. He does not play around with Ethereum. He simply set it free, made his big bucks and went off for his future adventures.

Vitalik Buterin: Not getting himself into that Ripple Price Crash
Vitalik Buterin – He knows how to play it smart

What the future holds for XRP after that Ripple Price Crash

If Brad Garlinghouse will continue to shoot guns on the US government then the future looks bad for Ripple. Already by now operators such as B2BInpay stopped using Ripple as a result of this lawsuit. Crypto is about freedom and about making things easy. Ripple looked to do the opposite and now it found itself in a great pickle.

Ripple price crash would probably cause more businesses to rethink about the use of XRP. Gambling sites like Stake and could probably delist that currency. If large exchanges like Coinbase and Binance will do the same then Ripple could be in a devastating position.

Garlinghouse hopes to win the lawsuit. He definitely has deep pockets to fund the top lawyers out there. However past experience shows that dealing with the US government is a recipe for disaster. Take e-gold for example. When you visit the site you can see in 2020 they are dealing with issues from 2008. The US government has all the time in the world. Ripple doesn’t.

e-gold is still fighting US govt sanctions from 2008
e-gold is fighting 2008 convictions for over 12 years. Ripple shouldn’t follow suit.

Let’s hope Garlinghouse would get smarter and realize settlement is his best option. Otherwise, Ripple could become the worst performing Crypto currency of 2021.

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