XRP is obviously in troubled waters as it recently got displaced by Litecoin as the fourth-largest crypto, with lawsuits piling up against Ripple.
As at press time, Litecoin traded at $157.38 with a daily trading volume of about $10 billion. Litecoin is up 0.38% in the last 24 hours. It is now the fourth biggest crypto by market value, standing at $10.425 billion.
READ: XRP in deep crisis, drops 21%
On the other hand, falling crypto asset, XRP at press time traded at $0.226762 with a daily trading volume of $5.4 billion. XRP is down 4.37% for the day, with a market value of $10.3 billion.
READ: KuCoin recovers 84% of Cryptos stolen by hackers
Leading crypto exchanges including, OKCoin, Coinbase, Bittrex, Bitstamp, OSL, CrossTower, and Beaxy are now staying far from XRP, thereby dampening market liquidity in the XRP market as those crypto exchanges listed above recently announced they would suspend trading for XRP, while others will delist XRP entirely.
READ: Ethereum defying law of gravity surges past $1,050
Also compounding hard on Ripple are reports revealing that Tetragon, one of the lead investors in a $200 million Series C funding round for Ripple some years ago, has recently filed a complaint against the firm in court to “enforce its contractual right to require Ripple to redeem” Series C preferred stock held by Tetragon.
READ: Bitcoin’s market value now $468 billion, bigger than GDP of Africa’s largest economy
What you should know: Litecoin is a P2P crypto that allows instant, near-zero cost fee to anyone around the globe. It is open-source in principle, as its global payment network is fully decentralized without any central authority.
