I’m sure many of us are biting our nails as we await a ruling on the SEC v. Ripple case. If you are anything like me, your nights are no longer used for sleeping. I am a nervous wreck! Hopefully, Ripple wins the case, and XRP picks up where it left off before getting delisted. I do not want to make speculations about the price because, in crypto, you never know.
I have learned to hope for the best and mentally prepare for reality! In crypto, it’s best not to get your hopes up because when a token misses the target, it causes people to freak out. After ETH merged, some people thought it would help to bring the price back up. It was holding around $1500.00 until the SEC stated that ETH falls under US jurisdiction.
Some of your ETH investors said nasty things about XRP, and now it looks like the SEC has its eyes locked on them. It is now public knowledge that the prior head of the SEC worked with firms that had direct dealings with ETH. We do not know what kind of relationship he had with ETH, but we know he was warned against contact with a firm due to his position and their involvement with ETH.
This is why we must have regulation. I sound like a broken record, but I will keep saying it. There can be no safety in crypto without regulation. Think about society and how laws work to hold certain practices in place. If we want crypto to become a contender in finance, there have to be regulations put in place. The lack of regulation gives birth to more fraudulent activity. It would be too easy for white-collar crime to ruin the crypto space.
I don’t want to see ETH go down the same path as XRP because the results would be horrible. However, I want to make sure we have a clear understanding of what happened, so we can prevent it from happening in the future.
As always, not financial advice. Now I can go to sleep.