XRP experienced a significant collapse in price below $0.50 after the Wall Street Journal reported that Tether, the largest stablecoin, was under investigation for money laundering. The report suggested that the US government may be investigating whether Tether has been used for illegal activities. This negative news had a devastating effect on XRP and other cryptocurrencies. However, Tether's CEO denied the report and stated that there is no indication of any investigation. Tether also issued a statement criticizing the media company for making false allegations without providing evidence. Following Tether's denial, XRP and other cryptocurrencies recovered some of their losses, but XRP is still down 2.14% over the past 24 hours.



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