( MENAFN - News Direct) --News Direct-- The longstanding Ripple (XRP) lawsuit is affecting XRP's trading price, and its investors are getting agitated. Apparently, Ripple could be facing a long year in the crypto market with all the token dumps this year. The other option is not so great either, as JasmyCoin's recent pumps and dips have left the long-term users in doubt.
Here's a bit on the upcoming meme giant. If you thought XRP was in bearish waters, the next few weeks are about to get rougher. And it has a lot to do with the ongoing legal battles with the Securities and Exchange Commission.
Already, Ripple's place among the top altcoins is threatened. About two weeks ago, some whale accounts dumped their tokens on BitStamp and Bitso , amounting to about $50 Million worth of XRP. While many thought that it might just be Ripple unlocking more tokens, there's been a more recent three-billion-dollar offload from the Escrow account to Ripple's wallet.
The huge Ripple price movements have been suspect among Ripple whales, and there could be sell pressure on the XRP token following such activities. So far, Ripple hasn't offered any explanation for the huge movements, and XRP is still on a 0.33% loss after a largely unremarkable month.
JasmyCoin hit the crypto news with its pump two weeks ago, which has helped JASMY to 99% monthly gains. May was a great month for JASMY, but the token fell due to token dumping early in June . DWF Labs deposited about 97 million JASMY tokens ($3.
3 m.