Why ADA is going down

There are a few big reasons behind XRP’s nosedive over the past few months. A regulatory crackdown in Russia, the world’s third biggest crypto market, has accelerated months of pain for cryptocurrencies .

As of this writing, 47.90 billion out of 100.00 billion Ripple tokens have already entered into circulation. This means almost 50% of the total is already minted, increasing the chance for a long-term price hike. XRP price prediction for 2023 shows that the average price will dwindle between $1.02 and $1.27. 8 Mar 2022

It may sound counter intuitive, but Ripple’s trajectory through 2021 and beyond is probably looking quite good based on the fact that it had a really tough 2020 and the years before. The coin suffered through 2019 and was one of the worse performing top crypto assets.

The company is embroiled in a lawsuit, filed in 2020, in which the agency accused Ripple of raising $1.3 billion in unregistered digital-asset securities by issuing XRP tokens . The SEC’s key claim is that XRP is not a currency, but a security, and therefore subject to strict securities laws.