Ripple Buyers Beware! 😱

XRP is plunging because the SEC just filed suit against Ripple!!

I admit I used to like XRP for transferring speed and low fees...

However all this new SEC drama seems to outweigh the benefits of using the coin. For transfers I like a coin to be stable for the transfer in case a dip hits while I’m waiting for confirmation. Deflationary coins seem to be the most stable in that regard, however XRP is inflationary, so it's one of the the worst possible way of transmitting value.

So BTC it is!!

Bitcoin is freakishly expensive, but at least deflationary!

And XMR is also a good alternative for XRP!

Monero is deflationary (a bit more so than btc for about 40 more years) and transactions are almost 0 (0.001 cent currently)Yeah!

Keep it simple just Tether it up instead!

USDT tether is great cause you always know no crash can happen during sending and receiving. Heck even HBD will do better than XRP!
However USDT does have some exchange risks too, since the dollar itself crashes in slo-mo)! 🐢

Monero is also completely hiding who you are and how much you send. I'd choose privacy plus zero cost every time over XRP!

This explains why xmr has tripled its transactions per hour since January, while btc remained stable. XMR is now above 10% of btc's transactions! 🤩

Should I buy the XRP Dip just because XRP is down?

NOPE!! 👎 something down 98% can fall 50% a day and will only be down 99% overall and worst of all xrp is still majority owned by RIPPLE. Looking at the Ripple, that means they can and will dump billions on you, in case they need money. The new SEC lawsuit says that XRP is Ripple's ONLY source of income. Now they have to pay New York priced lawyers, reality is they HAVE to sell more!

Bitwise acted fast, removed the toxic security from the fund fast! 💨

Even Bitwise BITW unloaded their XRP, more exchanges to follow suit!

Bitwise had to dump XRP today, so Coinbase if wants to IPO then they literally can't do that with a "security" (XRP) traded on coinbase! Warning XRP to get delisted everywhere!!

So all exchanges will HAVE TO delist XRP

I also think Binance international will delist too since they don’t list a security at the moment!

Every single US bound exchange won't be legally allowed to list a security. This lawsuit is really serious because the SEC got its hands on the legal advice Ripple had received years ago that told them XRP is a security. Ripple contacted lawyers and this is theeir reply from SEC! Ripple still went ahead with the project knowing they were breaking the rules. Seriously this look really really bad for Ripple and XRP since to the best of THEIR OWN KNOWLEDGE, legally, they knew they were breaking the law.

The SEC obvious had to act or look foolish because david Schwartz seems to have made some public statements in the past that are an admission of guilt for Ripple.

XRP price, watch out below!!

Meanwhile Ripple will have to finance the lawsuit and generate funds to pay lawyers, and according to the SEC, Ripple's only way to pay for anything is selling XRP! So overall I am very bearish in XRP, and you should be too! 🐻

What next?

Watch out for more shoes to drop! XML did the same thing, so damp that one too!

Follow @coininstant for more!