Ten billion US Dollars is no pocket money. That's how much holders of XRP have (virtually) lost in just two days, upon arrival of the news of Ripple being sued by the SEC. The thing is how crypto-gamblers (or crypto-investors, as they like to call themselves) see things, and why holders of that crypto-asset, had bought it in the first place.

Let's admit it. Very few are buying crypto-assets to be held for the long term. Even for Bitcoin, traders are typically holding it for about 3 months before they sell it, same as Ethereum. XRP is less than two months. This is the fundamental principle of those 'investing' in crypto-assets: crypto-assets are nothing more than bets. You place your bet and wait to see whether you win or lose it. That's far from what most people call investments or securities - let alone currency. This is why crypto-assets should not be seen or treated as such.

Yes, you may earn some money by placing such bets. But this does not make you neither an investor, nor a trader. Both investors and traders have clear and pre-determined strategies on why they decide to invest in any asset in the first place. And the reasoning behind those strategies is not price difference in any given timeframe.

People were buying XRP not because they believed in what Ripple was/is trying to achieve with it - at least not the vast majority of those placing their money in those trades. They were buying it because they were hoping its price will eventually go up, along with the rest of the casino trades they call market. This is not a market. Markets have clearly defined rules of trade. Crypto-markets have none. And most market participants are reluctant to getting any.

If a company being sued or some popular media personality suggestion, is enough to add or subtract billions of value, this is not a market.

Note: No XRP was or is held by ScreenTag.