This story was originally published here.
Over the last few weeks, cryptocurrencies, like Ripple (XRP) rallied to historic highs. However, don’t be so quick to invest. At least, not until the smoke clears. After slipping from about 63 cents to a recent low of 26 cents, XRP could see lower lows.
If you really want to buy, wait for the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple to blow over.
Cryptocurrency exchanges have been parting ways with XRP after the SEC filed a lawsuit against the coin’s issuer, Ripple Labs. Coinbase even suspended trading on XRP last week. Kraken also froze XRP trading in the U.S. following the suit, as well.
In addition, XPR investors were advised to settle their positions in the coin to avoid any disruption by 5 p.m. PST Friday, Jan. 29. In addition, we have to consider that institutions aren’t likely to touch the coin until the legal issues have been resolved.
All thanks to an SEC lawsuit that alleges XRP has always been a security rather than a currancy, and that it should have been registered with the commission… Story continues here.
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I’ll keep this brief…
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Talk to you soon,
Matt McCall
Senior Investment Strategist, InvestorPlace
P.S. If you watch the video all the way to the end, you’ll receive the name and ticker symbol to our favorite altcoin for free. Watch this recording while you still can.