XRP Investors Expect Ripple to Get Off Easy as SEC Drops Ethereum Inquiry
After the US SEC dropped its Ethereum probe, Ripple investors anticipate the same treatment.
As holders ponder the SEC's judgment, Ripple's CLO Stuart Alderoty asks.
Thursday's XRP price rises despite SEC lawsuit rumors.
On Thursday, Ripple (XRP) investors dispute the altcoin's future, which may be tied to the SEC's next move after ending its Ethereum inquiry.
XRP rises marginally Thursday as pro-Ripple activists expect the US regulator would treat it similarly.
Daily market digest: Ripple investors want SEC U-turn: US SEC discontinued Ethereum probe, according to Consensys founder Joseph Lubin on Wednesday.
The XRP community and pro-Ripple attorney Bill Morgan criticized the SEC's decision, saying Ethereum and Ripple's divergent handling would highlight how arbitrary the SEC has been in crypto.
Stuart Alderoty, Ripple's CLO, questioned the SEC's Ethereum handling. Alderoty called the SEC's ruling a triumph for
Consensys but cautioned that many concerns remain: Does the SEC believe Consensys' ETH offers and sales are not securities transactions or that ETH is not a security? If questioned, what would SEC Chair Gary Gensler say? Any updates on MetaMask and staking?
XRP rose roughly 1% on Thursday, according the daily chart. At $0.4963 on Binance, the cryptocurrency has gained roughly 1% in the last week but lost nearly 8% in the previous month.
The MACD line passed the signal line, and green histogram bars flashed above the neutral line, indicating a bullish XRP thesis. This bullish scenario might push Ripple into resistance at $0.5326, the June 5 high.
Ripple falling below $0.4665, the April 19 low, might disprove the bullish premise. XRP may find support around $0.4508, its June 7 low.
