Ripple Could Go Bankrupt, XRP May Be Deleted From History!

Arca's co-founder drew disaster for XRP.

Phil Liu, co-founder of New York-based cryptocurrency asset management firm Arca, thinks XRP will hit the dusty shelves of history by the end of this year. According to a Wall Street Journal report, Liu said, "I think this thing will find its place on the dusty shelves of history by the end of 2021." He used his words. At this point, it is worth noting that Arca does not offer any XRP-related services.

Ripple and SEC
In December, the U.S. Securities and Exchange Commission sued Ripple, the blockchain firm behind the controversial cryptocurrency. In the landmark case, which also targeted CEO Brad Garlinghouse and former boss Chris Larsen, the two executives allegedly earned revenue from the illegal sale of XRP.

At this point, Liu, a securities lawyer, states that he finds the allegations presented in the widely spoken case convincing. He also explains that XRP is the company's only revenue stream while describing its products as inadequate.

On the other hand, in February 2020, Garlinghouse told the Financial Times that Ripple would not be able to make a profit without XRP sales, and said, "We wouldn't be in profit or our cash flow would not be positive without selling XRP. he used the expressions.

Could Ripple Go Bankrupt?
Liu said in late December that he thought Ripple could go bankrupt by the end of 2021 because the company has no alternative to XRP sales, which is at the center of the SEC case .

Liu, who met from the United States and thought that Ripple would not be able to make a profit without selling XRP to US citizens, stated that Ripple may need to start from scratch and in this case, it will raise the flag of bankruptcy.

XRP Price
After the lawsuit, XRP went into freefall, so to speak, and fell to $ 0.17. Before that, XRP was in a good price action and its price rose from $ 0.30 to $ 0.78 in a very short time.

However, XRP , which could not recover after the trial, is fighting to exceed the $ 0.30 level. According to analysts, XRP's surge of $ 0.30 is essential to gain a bullish momentum.