XRP Price Continues Blood Loss: $ 4 Billion Flew!

The blood loss experienced by the XRP price continues at full speed.

XRP, the third largest cryptocurrency by total market cap, saw the bottom with news from the US. It seems that XRP price has declined more than 17% in the last 24 hours and has declined to $ 0.46. XRP, which has experienced a slight recovery in the last 7 hours, has reached the point of $ 0.48, but the loss is very, very big.

XRP Loses $ 4 Billion With Lawsuit News

XRP has lost nearly $ 4 billion in total market value in the last 24 hours alone, with the news of a possible lawsuit from the US. With a total market cap loss of $ 4 billion, Tether, right behind XRP, seems to have fallen very close to the total market value. As can be expected, this poses a great risk for XRP.

The fact that XRP is very close to Tether, the fourth largest cryptocurrency by total market cap, increases the risk of it being retaken. When something similar happened in mid-2020, and XRP fell to fourth place in terms of total market capitalization, Tether took third place for months.

Does Ripple Have a Plan B?

So what can Ripple do in such a situation and how can it survive? In fact, it is known that Ripple does not have a large user base in the USA. CEO Garlinghouse previously stated that only 5% of XRP investors are in the US.

In the continuation of this statement, Garlinghouse signaled that they could move to other countries due to the regulation uncertainty in the USA. As can be guessed, Japan was the closest to Ripple among these countries. Japan's financial regulator even made a decision that XRP is not a security.

Moving Ripple Could Work

If Ripple decides to leave the US and move to Japan after a SEC lawsuit, this could minimize the damage for XRP. Still, there is a chance that the XRP price could be adversely affected by a possible SEC lawsuit.

Although there are not many XRP users actively in the US, a significant portion of the corporate names that Ripple has partnered with have transactions related to the USA. This indicates that the decision of the SEC is becoming more important than ever.

Although no lawsuits have yet been filed against XRP and Ripple by the SEC, it is considered certain that the lawsuit will be filed, and its finalization could lead to a sharp decline for the XRP price .