Now the US Securities and Exchange Commission has opened an investigation into Ethereum Foundation. The SEC expressed ETH’s skepticism, which it labels as a “security.” Ethereum is being investigated by the authorities on grounds that it has a software version for 2022. upgrade The network’s transactions are now processed differently.
A number of questions have been raised by the SEC investigation into Ethereum. XRP has been a subject of the SEC’s investigation and many in the crypto world are wondering if it is to escape from this probe.
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XRP vs. Ether – blurred Lines between the Two?
One crippling issue has plagued the cryptocurrency market since the SEC started tightening up its grip on Ethereum. The X community is rife in opinions about whether XRP can now break free from the SEC and forge an independent path.
The crypto community on X has been expressing new views on the SEC vs. Ethereum argument. These questions are: With Ethereum on fire now, will its momentum, user flow and liquidity fuel XRP’s popularity?
Ethereum’s drama with the SEC is gaining momentum as markets await updates about an Ethereum ETF. SEC is following the narrative it followed with Ripple. They are trying their best to label ETH a potential threat. “security.”
The asset that is being dubbed “security,” It is governed by a different trading jurisdiction and strictly regulated under specific trading mechanisms in order to prevent investors being exploited.
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The SEC has dubbed ETH as a security network. If the investigation escalates, it could spell serious trouble for the network.
Ripple CEO Brad Garlinghouse protects Ethereum amidst the SEC Drama
Brad Garlinghouse has come out in support of Ethereum. Garlinghouse sent out his opinions via X and added that the SEC shouldn’t follow the same pattern as it did for XRP.
“The SEC picks fights with the industry and is losing badly in the courts. They’re now fighting fellow regulators like the CFTC and falling behind their international counterparts. At what point will the SEC realize they will lose the war against ETH just as they lost against XRP?” Garlinghouse Tweeted later
Ripple’s CEO reposted Coinbase’s Paul Grewal’s post about ETH. Grewal highlighted bold anomalies within the SEC vs. Ethereum story.
XRP Analysis
The SEC vs. Ethereum fight seems to be helping XRP gain a credible market movement. CoinMarketcap reports that the token The price of the coin has increased by 5% over the past 24 hours. It was $0.6351 as at time of press.
In the last one month, tokens have seen a 17% increase in value.
The Persistence of the People CoinCodexXRP is likely to show a potential bullish tendency in the near future.
“According to our current XRP price prediction, the price of XRP is predicted to rise by 5.94% and reach $0.674352 by April 20, 2024. According to our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 78 (extreme greed). XRP recorded 16/30 (53%) green days with 7.05% price volatility over the last 30 days.”
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Source: watcher.guru
