Ripple Accuses SEC of Market Suppression
- Stuart Alderoty criticizes SEC actions in the cryptocurrency market
- Speculations about Gary Gensler’s exit boost XRP price
- Analysts Predict XRP Could Surpass All-Time High in 2025
Ripple’s chief legal officer Stuart Alderoty has criticized the U.S. Securities and Exchange Commission (SEC) for what he says is causing a prolonged, artificial suppression of the cryptocurrency market. In a recent post on social media platform X, Alderoty stated: “It turns out that the only ‘other efforts’ that have actually moved the cryptocurrency markets—causing a massive, prolonged artificial suppression—have been those of the SEC.”
The SEC bragging about record fines collected is like a professor boasting about their highest-ever class failure rate and the most cheating scandals. It's not a measure of success—it's an indictment of oversight gone terribly wrong, driven by perverse incentives. https://t.co/xRussTBFg6
— Stuart Alderoty (@s_alderoty) November 26, 2024
Alderoty has been a vocal critic of the SEC’s actions, especially under Gary Gensler. He has previously compared the agency’s stance to a teacher who boasts about having the highest failure rate in his class, suggesting that this is not a measure of success but rather an indication of inadequate oversight.
The SEC, under Gensler’s leadership, has taken a tough approach to the cryptocurrency industry. In December 2020, the agency sued Ripple, alleging that the company violated laws by selling XRP without registering it as a security. The SEC has subsequently filed lawsuits against other digital asset companies, including Coinbase and Binance.
Recently, there has been speculation that Gensler will step down in January, which has been positively impacting the price of XRP. Additionally, digital assets previously classified as “unregistered securities” in SEC litigation, such as ADA and SOL, have also been benefiting from this bullish sentiment.
Arthur Azizov, CEO of B2BinPay, noted that XRP has been in an accumulation phase for almost three years, approximately 900 days. He highlighted that the length of this phase usually determines the strength of the subsequent rally, which explains XRP’s roughly 404% surge since November 4.
With the improving regulatory landscape and the significant potential of XRP, analysts believe that the cryptocurrency’s price could surpass its 2017 all-time high by 2025.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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