The position of the altcoin XRP continues to worsen after a lawsuit by the US Securities and Exchange Commission (SEC). Today it also became known about the lawsuit from the Tetragon Financial Group
Litecoin (LTC) ousted XRP from the fourth place in the ranking of the largest digital currencies according to CoinMarketCap. Now the cost of all LTC is just over $ 10.74 billion, while XRP’s capitalization is holding around $ 10.349 billion.
Litecoin was already ahead of XRP, then the latter was able to return to the fourth line of the cryptocurrency rating.
However, amid a new lawsuit against Ripple, the position of its altcoin has worsened again. This time, the plaintiff was Tetragon, which invested in XRP back in 2019. She demands that the court order Ripple to buy back shares held by Tetragon. We are talking about an investment in XRP in the amount of about $ 200 million.
In addition, the lawsuit notes that it is necessary to prohibit the defendant from any operations with assets until the dispute with the SEC is settled.
Ripple has already responded to the claim from Tetragon. She accused the plaintiff of taking advantage of the lack of US legislation to regulate relations in the cryptosphere in order to strike another blow at the team.
Litecoin has risen in price by more than 25% over the past seven days, while XRP, on the contrary, is losing ground. As a result, LTC took advantage of the situation and knocked out Ripple’s altcoin from the top three leaders.
So far, there is a small distance between the coins, but as the situation of Ripple becomes more complicated, XRP market positions will also weaken, observers note.
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