The class action lawsuit previously sought to establish that Ripple had breached U.S. securities laws through the sale and marketing of its XRP token.
A lawsuit brought against Ripple by purchasers of the XRP cryptocurrency is going to move forward after the latest attempt at halting the legal action have failed.
XRP is set to be delisted at midnight on the January 16, which will see all of its crypto pairs removed.
Elliptic uncovered $400M worth of illicit XRP transactions mainly tied to scams, thefts and credit card schemes.
Ripple is accused of fresh breaches of securities laws by issuing its cryptocurrency, XRP, monthly to general sale and promising prices would rise.
Ripple, and its XRP cryptocurrency, has been at the center of several contentious debates over the years.
Cryptocurrency exchange giant Binance is gaining ground among its competitors and is quickly becoming a global force behind crypto adoption.
The recent listing of XRP is causing some headaches for Coinbase, as many say the addition goes against their regulations.