We’ve already highlighted in our recent posts about the bearishness of BTC, ETH and NEM in a close range on Tuesday as these cryptocurrencies continued price dips. BTC is currently trading at around 9327, ETH at 717 and NEM at 0.00004075 levels.

The spotlights now turn on Ripple but this time on a negative note, a lawsuit which alleged that it led a scheme to raise hundreds of millions of dollars via unregistered sales of XRP.

Diego resident Ryan Coffey lodged a lawsuit against Ripple Labs, its CEO and subsidiary. The plaintiff alleges that the defendants have violated the state and federal securities laws, engaging in schemes to raise hundreds of millions of dollars through the sale of unregistered ripple tokens (XRP).

The below is the weblink, wherein we raised bearish indications:

https://www.econotimes.com/Ripple-forms-gravestone-doji-tumbles-on-allegations-of-breach-of-US-security-laws-more-slumps-likely-on-bearish-crossovers-1294594

Ever since then 3.13% price dips are seen so far, we could foresee more weakness in the days to come. However, the most baffling thing with this crypto-asset is that the market capitalization has gone up despite this crypto price tumbled. The big reason to ponder upon.

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