According to Ripple’s CEO, Brad Garlinghouse, the SEC (The United States Securities and Exchange Commission) has deliberately allowed Ethereum to overtake XRP as the number 2 cryptocurrency, looking at market cap.
Ripple in trouble
As we probably all know, Ripple is currently the protagonist of a huge lawsuit, probably the largest crypto lawsuit to date. Not surprisingly, the CEO of the project, Brad Garlinghouse, is not happy about the regulation surrounding crypto.
He was recently a speaker at the online conference DC Fintech Week, last Thursday. Here he indicated that, in his opinion, Ethereum has been given a sort of free pass within this regulation and that this is the reason the project has been able to overtake XRP.
“Within the last few years, XRP was the second most valuable digital asset. As it became clear the SEC had given a hall pass to ETH, ETH obviously has kind of exploded and that clarity has helped.” he indicated last Thursday.
In December 2017, XRP was still the 2nd largest crypto currency, looking at market cap. In the meantime, XRP is ranked number 7, probably largely due to the lawsuit. The coin has been overtaken by Ethereum, Binance Coin, Cardano, Tether and Solana. In spot number 1, of course, is still Bitcoin.
“You have nearly 50,000 U.S. people who hold XRP who are trying to sue the SEC for ‘protecting them’.” So Garlinghouse also seems to indicate satisfaction with the people who are still showing their faith in XRP by holing up.
Not surprisingly, if the lawsuit is resolved in XRP’s favor it could just be that XRP will take off completely, though of course this is not financial advice. Do you think XRP has a bright future? Then you can already purchase your first XRP through Binance. Click on this link to get started today!