Unconsciously since Ripple Labs Inc. sued by the Securities and Exchange Commission last week, the XRP market capitalization has fallen nearly $ 130 billion after all-time high in 2018.
According to Josh Frank of the crypto research firm, THE TIE, the XRP depreciation of 93% from $ 137 billion to $ 10 billion was lower, worse than the fall of some large firms such as Enron and Worldcom.
Although not bankrupt, XRP declines are the third largest after Lehman Brothers and Washington Mutual.
XRP made its history in January 2018 with a market capitalization of around $ 140 billion before falling below $ 10 billion with an estimated loss of $ 130 billion in less than 3 years.
Frank also expressed frustration over individual investors who had lost money dumps while its founders were making a profit.
Institutional players are seen starting to leave XRP.
As Grayscale in the latest report has closed XRP personal savings. Meanwhile, there are also rumors that the firm will no longer process pending applications for XRP Trust.
At the time of writing, XRP is trading at $ 0.21, declining over 65% in 30 days.
