The US SEC sued Ripple Inc for selling unregistered securities. After the notable lawsuit, three cryptocurrency exchanges , CrossTower, Beaxy and OSL, stopped trading XRP. Experts pointed out that major exchanges will remove the XRP token if the SEC wins the case.
XRP holders faced bigger problems as they thought they had just recovered from the shock of the SEC’s claims against Ripple.
SEC Victory in Ripple Case Will Delete XRP from Lists
Experts and analysts believe the SEC has a chance to win the case and ban the sale of the XRP token. In this case, major crypto exchanges will also have to remove the cryptocurrency from the list, as three exchanges have already stopped trading XRP.
According to leading lawyers in the crypto industry, exchanges listing XRP are at risk if the SEC ultimately prevails in an anticipated lawsuit against Ripple Inc.
Famous crypto analyst Tony Weiss made a statement as follows:
SEC DOES NOT ATTACK CRYPTOCURRENCIES. WE’RE NOT ALL ON THE SAME SHIP IN THIS BUSINESS. XRP IS A CENTRAL FRAUD SYSTEM. NO ONE CAN GO AGAINST IT. IF IT WINS THIS CASE, XRP MUST BE EXPUNGED FROM ALL CRYPTO EXCHANGES.