XRP has struggled to surpass the $1 mark, currently trading at just $0.52, a staggering 85% below its all-time high of $3.84.
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PayBito, a global trading platform and cryptocurrency exchange, has suspended XRP trading in light of the US SEC’s latest action against Ripple Labs, Inc.
The US Securities and Exchange Commission (SEC) has filed an action against Ripple Labs Inc. and two of its executives, who are also significant security holders, alleging that they raised over $1.3 billion through an unregistered, ongoing digital asset securities offering.
At least 38 of the world’s 100 largest banks have reportedly tested, integrated or invested in Ripple’s remittance technology.