XRP: Would You Buy The Dip And If Yes, Why?

_{|| Image by Miloslav Hamřík from Pixabay ||}

The XRP cryptocurrency is a popular cryptocurrency, occupying one among the top 5 cryptocurrencies for a long time. Despite the recent surge in the price of major cryptocurrencies, XRP has been seeing a drastic drop in its price since the SEC announcement in late Dec 2020 that it is set to file a lawsuit against Ripple and two of its senior executives over an allegation that the XRP cryptocurrency is a security and Ripple and its senior executives are in breach U.S Federal securities laws. The SEC has since filed a suit against the above mentioned parties.

Ever since the announcement, major crypto exchanges have been delisting XRP from their platforms and these actions have further aggravated the drop in the XRP price.

It is instructive to note that this is not the first time SEC has taken action against crypto projects on similar grounds. Before this SEC had taken action against Kik, a chat app company, which eventually paid out a fine of $5 million to SEC. Another case involves Telegram which also settled its case with SEC with a fine of 18.5 million and returned $1.2 billion to investors. Then we have Block.one, the company behind EOS, which settled $24 million in fines for the offense of offering for sale of ERC-20 tokens as unregistered securities.

In the light of the previous actions taken by SEC against other crypto projects in similar circumstances what do you think the outcome of the present case against Ripple would be? Does this present an investment opportunity and if so, when and at what price would you buy XRP?