Why is XRP (ripple) sinks today

The crypto token XRP (XRP 7.50%))) becomes lower on Thursday and loses 4.9% from 1 a.m., although 5.4% of the trade has been retired earlier yesterday. The decline comes when the wider market takes a dive: the S&P 500 And Nasdaq Composite fell 4.7% or 5.4%.

The Securities and Exchange Commission (SEC) now holds a session, from which many investors expect the ongoing legal disputes of the regulatory authorities against the parent company of XRP, Ripple, a major update. This meeting is not accessible to the public.

The second could have an update

The investors were delighted at the end of the last month when Ripple announced that the SEC would finally end their ongoing legal disputes against the company. However, the agency never made its own announcement to confirm this, and it soon became clear that Ripple had jumped the weapon. However, the Commission is still considering dropping the case and many investors hope that more clarity will bring today.

At the meeting of the regulatory authority at 2 p.m. ET, “assessment, examination, legal disputes or regulatory matters” are discussed. The details are light and speculation is high. XRP sinks because the investors expect the session to lead to the SEC continuing their legal disputes.

The token also feels pressure from the ongoing trade war with China. Even after President Donald Trump has reduced the tariffs to 10% for most trading partners and stated that he is striving for with individual business, the taxes of the White House for Chinese goods are now 125%.

Economic uncertainty makes investors cautious about high risk assets such as XRP. Even if things were not so rocky, I would stay away from the token.