https://techcrunch.com/2020/12/23/ripples-xrp-cryptocurrency-crashes-following-announcement-of-sec-suit/

The value of one of the world’s most valuable cryptocurrencies is crashing and a recently filed SEC complaint is at the root of the free fall. According to CoinMarketCap, the XRP token’s value has declined more than 42% in the past 24 hours and is down more than 63% from its 30-day high of $0.76. It now sits at just $0.27.

XRP’s price volatility has rivaled the most capricious of cryptocurrencies. Since reaching an all-time-high of $3.84 back in January of 2018, the coin has spent much of the past two years drifting closer and closer to pennies. In the past month, on the back of major rallies from other cryptocurrencies, XRP has seen its biggest rally in years, but those gains were all erased this week by the Ripple CEO Brad Garlinghouse’s admission that the SEC was planning to file a sweeping lawsuit against the company during the current administration’s final days.