A Little-Known Crypto That Surged Over 7,000% within 6 Hours
AI Trading

The SEC lawsuit against Ripple has obviously thrown the XRP community into confusion. It has also halted the alliance of XRP with exchanges and crypto-related firms such as Galaxy Capital, Coinbase, OKCoin, Jump Trading, and lots more.

The scenario is also prompting a number of big bag holders of XRP to swiftly decide on how they would diversify their portfolio since the future of the cryptocurrency is becoming glooming on a daily basis.

Read Also: Cardano Founder Charles Hoskinson Says XRP Is Not a Security but Questions Its Mode of Distribution

XRP Investor Moved 40% of His XRP Holdings into Cardano (ADA)

A pseudonymous XRP investor has a couple of hours ago taken to Twitter to share an investment decision he made to save his neck from sinking completely with the digital token XRP, following the SEC’s lawsuit against Ripple and its aftermath.

AI Trading

According to the XRP investor, he has scaled 40% of his accumulated XRP into Cardano (ADA). The user says the decision is the best for him and his family.

However, the crypto investor showed he’s still confident that XRP will bounce back.

He tweeted, “Scaled 40 percent of my XRP into Cardano ADA. Don’t care if your upset it’s what’s best for me and my family. I’ll be back with a bigger bag of XRP in the long run.”

Meanwhile, the United States Securities and Exchange Commission has on 22nd December filed a lawsuit against Ripple for the sale of unregistered security for 7 years. The unfavorable development has been giving XRP big blows in terms of price.

Read Also: David Schwartz Explains Why SEC’s Suit against Ripple Makes No Sense

XRP Regained 15% After Ripple Says It’s Ready to Work with SEC

XRP has managed to claw back some of its huge losses, soaring over 10 percent after Ripple’s issued a public statement about its legal predicament with SEC.

According to the public statement, the San Francisco-based blockchain company is ready to engage with the agency’s new leadership while doubling down on its commitment to defend itself in court.

At the time of publishing, XRP is trading at $0.245043, with a relatively 16% price downtrend in the last 24 hours.

Follow us on Twitter, Facebook, Telegram, and Download Our Android App.

AI Trading

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.