Given the SEC’s recent action against Ripple, all XRP books have been moved to limit only and Coinbase plans to fully suspend trading in XRP on Tuesday, January 19, 2021, at 10 AM PST. Afterwards, users will continue to retain access to their XRP funds.

[wogojump]

Thanks Brad and Chris-

2 steps forward, 10 steps back.

 

 

[mrhat75]

Thanks SEC for not doing anything for nearly a decade and screwing all XRP holders right at the start of a new bull run 

I'm convinced that this was intentional. SEC knew what they were doing and there is dirty money behind all of this

Edit: Just like the CMC Korean exchange crap in 17/18

Edited December 29, 2020 by mrhat75

[MarcusAurelius]

1 hour ago, wogojump said:

Thanks Brad and Chris-

2 steps forward, 10 steps back.

 

 

Like I said in some other posts, IT'S ALL OVER folks. We got scammed. 

[RandyMarsh]

90 cents was my exit point... would have broke even with a bit of profit on top. What a shame. Looks like I'm strapped in for another long haul now   

[MarcusAurelius]

I just hope everyone realizes that EVEN IF all the SEC stuff was not true, which seems unlikely...even on the merits of XRP being a crypto currency and not a security, it doesn't take away all the shady behavior...even if it was all untrue, we just passed the event horizon some weeks back without knowing it. XRP is now in a black hole of toxicity and ill-repute. It will never be an institutional settlement or cross border token again. Banks and governments and exchanges will all shun it. Good for Brad, Chris, and Jed to make so many millions of dollars. Congrats to them, LOL. 

[B088IN]

11 minutes ago, MarcusAurelius said:

I just hope everyone realizes that EVEN IF all the SEC stuff was not true, which seems unlikely...even on the merits of XRP being a crypto currency and not a security, it doesn't take away all the shady behavior...even if it was all untrue, we just passed the event horizon some weeks back without knowing it. XRP is now in a black hole of toxicity and ill-repute. It will never be an institutional settlement or cross border token again. Banks and governments and exchanges will all shun it. Good for Brad, Chris, and Jed to make so many millions of dollars. Congrats to them, LOL. 

Got to love how forums have lots of people who know exactly what is going to happen and can see into the future 😂

I get it, things are bleak, but let’s try and stick to the current time frame and facts rather than telling people the future 😎👌

[VanGogh]

12 minutes ago, MarcusAurelius said:

I just hope everyone realizes that EVEN IF all the SEC stuff was not true, which seems unlikely...even on the merits of XRP being a crypto currency and not a security, it doesn't take away all the shady behavior...even if it was all untrue, we just passed the event horizon some weeks back without knowing it. XRP is now in a black hole of toxicity and ill-repute. It will never be an institutional settlement or cross border token again. Banks and governments and exchanges will all shun it. Good for Brad, Chris, and Jed to make so many millions of dollars. Congrats to them, LOL. 

It's painful to watch all this take place. Still, the tech is still sound, and it's needed by the world at large. Be patient. This is not the end, even if it might feel that way. Another side of the story is yet to unfold. 

[peanut56]

It is difficult to separate emotion from reality. We all knew at some point there would probably be a stand-off between the U.S. government and Ripple. It has been brewing for quite sometime. So what "do we know. What do we not know? What do we not know that we do even know we do not know?

Is this law suit a stance the government is going to take to protect its own currency, legacy systems, or what it has deemed as necessary for the overall security of investors and long term security of the U.S. financial system? Did the SEC decide to take on Ripple now for theatre believing that Ripple could weather the storm and still progress to intended outcome while laying down some rules to avoid pet peeves in what could be considered or seems to be at the moment an non-regulated market. If the SEC asked the house or senate to regulate the market and they choose not to (not something that seems to far fetched at the moment) then this may have been a hail marry on their part to get it done. Rant over/ I do not know. If it is too much sell and buy back in when it is over or not. Hold tight or trade.

[Gambaard]

7 hours ago, MarcusAurelius said:

I just hope everyone realizes that EVEN IF all the SEC stuff was not true, which seems unlikely...even on the merits of XRP being a crypto currency and not a security, it doesn't take away all the shady behavior...even if it was all untrue, we just passed the event horizon some weeks back without knowing it. XRP is now in a black hole of toxicity and ill-repute. It will never be an institutional settlement or cross border token again. Banks and governments and exchanges will all shun it. Good for Brad, Chris, and Jed to make so many millions of dollars. Congrats to them, LOL. 

Because no one uses Facebook anymore since they found out FB sells your personal information, right?

People on this forum tend to forget that it's still just claims made by the SEC. What happened to innocent until proven guilty? I'm sure that there is always something to be found when you keep digging. But I'm sure Ripple/SEC will settle at some point (occam's razor and all) and lets not forget that the US market is only responsible for 5% of XRP trading volume.

Still bullish, will buy again if/when we get to $0.05-$0.10 range.
 

[Gazelle77]

7 hours ago, MarcusAurelius said:

I just hope everyone realizes that EVEN IF all the SEC stuff was not true, which seems unlikely...even on the merits of XRP being a crypto currency and not a security, it doesn't take away all the shady behavior...even if it was all untrue, we just passed the event horizon some weeks back without knowing it. XRP is now in a black hole of toxicity and ill-repute. It will never be an institutional settlement or cross border token again. Banks and governments and exchanges will all shun it. Good for Brad, Chris, and Jed to make so many millions of dollars. Congrats to them, LOL. 

hahahahaha you are right that the situation is extremely worrying (almost defining) but according to your argument, if all the companies that have had dirty practices on their board of directors had had the same luck that you are presuming to Ripple, the business world would be made up of you , for me and a few more.
P.S. I do not intend to soften the situation, but in the long run, if Ripple succeeds in this situation, I do not believe that fraudulent practices on the part of the management will lead to the veto of the industry. Without going any further a few months ago a report was made public where it was said that the Deutsche Bank participated in the laundering of billions of Euros from criminal activities and there it continues, in fact in case of collapse it will surely be rescued by the German state , there are hundreds of cases that disprove your narrative.

[JJJ2]

8 minutes ago, Gazelle77 said:

hahahahaha you are right that the situation is extremely worrying (almost defining) but according to your argument, if all the companies that have had dirty practices on their board of directors had had the same luck that you are presuming to Ripple, the business world would be made up of you , for me and a few more.
P.S. I do not intend to soften the situation, but in the long run, if Ripple succeeds in this situation, I do not believe that fraudulent practices on the part of the management will lead to the veto of the industry. Without going any further a few months ago a report was made public where it was said that the Deutsche Bank participated in the laundering of billions of Euros from criminal activities and there it continues, in fact in case of collapse it will surely be rescued by the German state , there are hundreds of cases that disprove your narrative.

The rescue concerns only accounts below 100k €, not all the garbage derivatives owned by the bank. Of course eployees would not loose their job, but those investors who have bought the risky derivatives and have lost a lot won't ever see their money back.

By the way DB shares used to be at 96€ in 2007. Now they're worth 9,2€.

Edited December 29, 2020 by JJJ2

[Gazelle77]

Just now, JJJ2 said:

The rescue concerns only accounts below 100k €, not all those garbage paper they own. OF course worker would not loose theri job, but those who have bought the risky derivatives and have lost a lot won't ever see their money back.

By the way DB shares used to be at 96€ in 2007. Now they're worth 9,2€.

The point is that in the corporate world that wouldn't stop the "so-called" use of XRP for its purpose. As I have said before, there are many examples of allegedly criminal behavior in high profile company managers that have not led to the cessation of business; a restructuring, a change in the narrative, advertising ..... etc, etc; at the end of the day, if Ripple manages to escape this painful situation and gets its business model to take off (certainly unlikely at this point) and do what it supposedly does (cut costs), the banks, MM ....... etc will not be affected by previous behaviors, they will seek to maximize the benefit and if that benefit is found in the business solution provided by Ripple they will use it. I really think that you place too much hope in business ethics, in that world ETHICS DOES NOT EXIST AND IF THERE IS ITS MOST PROBABLE REPRESENTATION IN THAT OF A € 500 TICKET.

[JJJ2]

1 minute ago, Gazelle77 said:

The point is that in the corporate world that wouldn't stop the "so-called" use of XRP for its purpose. As I have said before, there are many examples of allegedly criminal behavior in high profile company managers that have not led to the cessation of business; a restructuring, a change in the narrative, advertising ..... etc, etc; at the end of the day, if Ripple manages to escape this painful situation and gets its business model to take off (certainly unlikely at this point) and do what it supposedly does (cut costs), the banks, MM ....... etc will not be affected by previous behaviors, they will seek to maximize the benefit and if that benefit is found in the business solution provided by Ripple they will use it. I really think that you place too much hope in business ethics, in that world ETHICS DOES NOT EXIST AND IF THERE IS ITS MOST PROBABLE REPRESENTATION IN THAT OF A € 500 TICKET.

I hope that the use of xrp won't cease. xrp is not considered a security in the whole world but USA. But without a (official or unofficial) support by the US, I do not see a way how xrp could become one major player in the money transfer market.

I don't know what to do with the xrp I own. Let's say xrp falls to its original price (the 0,006-0,004$ region). Then one can buy a lot for a few money. And it can be also distributed very quickly (100lbn xrp =  400 mln $). At this point the problem created by all the unused xrp disappears.

But the question is how long would it take b4 this crisis is forgotten and will xrp ever reach the previous levels?