Ripple is still battling the SEC in court. Attorney Bill Morgan criticized VanEck for not taking a clear stance, pointing out their inconsistency in supporting fairness in ETFs but staying silent during XRP’s legal troubles.
Asset managers like VanEck, Canary Capital, and 21Shares penned a joint letter to SEC Chair Paul Atkins, urging a fair process for approving crypto ETFs to avoid damaging innovation in the market.
Morgan called out VanEck for their silence during the Ripple case, highlighting the lack of complaints when XRP faced legal issues compared to Ethereum receiving favorable treatment from the SEC in 2018.
Questions have been raised about conflicts of interest at the SEC, with critics like John Deaton questioning the credibility of SEC official William Hinman’s 2018 speech that labeled Ethereum a non-security.
As the crypto community eagerly awaits updates on the Ripple vs SEC case, a crucial deadline for the SEC to update the Appeals Court looms on June 16.
XRP’s current price is at $2.29, with a 2.7% increase in the last 24 hours. The next price movements will hinge on developments in the Ripple case and spot ETF news. A breakout above $2.35 could drive XRP to $2.50, $2.65, and maybe even $3 or its all-time high of $3.55. Conversely, dropping below the 50-day EMA might lead to a decline to $1.93.
Note: Investments carry market risks. Please invest carefully. We do not accept responsibility for any financial losses.
