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XRP Tanks to $0.19, Peter Schiff Takes a Jab at XRP

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Tue, 12/29/2020 - 12:09
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Yuri Molchan
Fourth biggest crypto, XRP, has plummeted below $0.20, and Peter Schiff cannot but add his few cents at slamming the coin
XRP Tanks to $0.19, Peter Schiff Takes a Jab at XRP
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On the news of the largest U.S.-based exchange, Coinbase, delisting XRP, the coin has made another decline and dropped from $0.22 to $0.19.

XRP's market cap has shrunk slightly over billion USD since earlier today, and the coin is now the holder of the fourth position on CoinMarketCap with USDT taking third place.

Peter Schiff, the famous Bitcoin critic, has taken to Twitter to share XRP's decline, reminding the community that XRP lost nearly 70 percent of its market cap after the U.S. SEC sued Ripple and its former and current CEOs, Chris Larsen and Brad Garlinghouse.

The regulator has also concluded that XRP is an unregistered security.

XRP
Image via CoinMarketCap

Related
82 Million XRP Shifted by Coinbase and Bitstamp While XRP Loses Spot 3 to Tether

Having reached a high of $0.78 on the coattails of the Bitcoin rally earlier this year, XRP was trading above $0.60 but then began a fast decline.

Earlier today, XRP sat at $0.22 but, at press time, the coin is trading at $0.19. Schiff got the name of the asset wrong, calling XRP by the name of fintech giant Ripple. He asked followers what may happen to Bitcoin if the SEC calls that a security, too.

XRP
Image via Twitter

However, this is not an issue as the regulator has already announced that Bitcoin and Ethereum are not securities.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.