Ripple community criticizes SEC’s perceived favoritism towards Ethereum. The disparity in the SEC’s treatment of XRP Coin and Ethereum has sparked outrage. Amonyx predicts a bullish trajectory for XRP Coin in 2024. Accordingly, XRP could experience significant price increases against USD and BTC.
XRP Coin investors angry at SEC’s Ethereum ‘Favoritism’!
The Ripple community thinks that the SEC is showing favoritism towards Ethereum. Therefore, they are quite angry. Moreover, the SEC’s attitude is leading to calls for legal action. The controversy stems from the SEC’s decision to drop its case questioning Ethereum’s securities status shortly after it approved the Ethereum ETF. The move draws sharp comparisons with Ripple’s ongoing legal battles with the SEC. This, in turn, fuels accusations of regulatory inconsistency.
Pro-Ripple analyst: This is ETHGATE!
Bill Morgan, a prominent figure in the XRP Coin community, has been particularly vocal about perceived inequality. He argues that the SEC’s decision to give Ethereum a “second pass” nearly six years after the influential Hinman speech declaring that Ethereum is not a security is emblematic of the SEC’s inconsistent regulatory approach.
This has sparked outrage among XRP supporters, with an analyst with the pseudonym Digitalassetbuy calling the SEC’s actions “criminal”. He also advocates for Ripple executives Brad Garlinghouse and Chris Larsen to sue the SEC. He goes further and calls this controversy “ETHGATE”. The analyst notes that Ripple has spent over $100 million on SEC-related regulatory matters over the past three years. He also emphasizes that this is a financial burden not borne by Ethereum.
Technical analysis predicts XRP Coin volatility
Cryptocurrency analysis firm Amonyx has published a technical assessment of XRP Coin price movements. Amonyx predicts a potential bullish trajectory for XRP against both USD and Bitcoin in the coming year.
The XRP Coin USD chart shows a long-term ascending channel that has been running since 2014. This trend reveals that XRP has been continuously oscillating within its upper and lower parallel lines. The chart shared by the analytics company suggests a future projection that points to a potential bullish move towards the 2,618 Fibonacci level. This forecast points to a significant price increase with a possible peak around 2024. The “inversion zone” marked at the top right indicates a possible area for price consolidation or reversal. The blue projected path on the XRP/BTC chart shows a potential bullish trend towards the 1,618 Fibonacci level. This projection is in line with the XRP/USD analysis. It also suggests significant value increases relative to BTC until 2024.
Meeting market demand
As you have been following on Kriptokoin.com, Ripple has officially launched RLUSD, a new stablecoin available on both the XRP Ledger and the Ethereum Blockchain. This strategic move, announced by Ripple CTO David Schwartz, aims to meet the growing demand for stable digital assets. It also aims to leverage Ripple’s expertise in cross-border payments. Ripple’s confirmation of RLUSD’s launch platforms removes previous uncertainties. This clarity is crucial for investors and stakeholders seeking direction on Ripple’s stablecoin strategy.
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