Cryptocurrency firm Ripple expects to be sued by the SEC; XRP plunges PUBLISHED TUE, DEC 22 20203:04 AM ESTUPDATED TUE, DEC 22 20203:50 AM EST Ryan Browne @RYAN_BROWNE_ Kate Rooney @KR00NEY KEY POINTS The SEC is set to bring a lawsuit against Ripple claiming the company violated laws against selling unregistered securities when it sold XRP to investors. Ripple CEO Brad Garlinghouse said the SEC’s suit was “fundamentally wrong as a matter of law and fact” and questioned its timing. XRP declined sharply following news of the expected SEC suit, with the cryptocurrency falling over 17% to around 46 cents.