Amid a massive dip in the cryptocurrency market, most of its major assets are declining, and XRP is no exception, having lost over 13% on the day, which has added to the loss of nearly 20% on its weekly chart, but there are more reasons behind the token’s crash than just the bearish market sentiment.
Indeed, the XRP crash has also coincided with the court in the case between blockchain company Ripple and the United States Securities and Exchange Commission (SEC) granting the regulator’s request for a motion for leave to file an interlocutory appeal on August 17.
Additionally, as Finbold reported earlier, XRP has erased $4 billion from its market capitalization following the price crash, dwindling from $31.05 billion to $26.67 billion – a 13.82% drop in a single day.
SEC appeal fears
Although legal experts have said that this does not mean that Judge Analisa Torres has authorized an early appeal, it has nonetheless sparked fear in the cryptocurrency industry, particularly among th
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