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Former SEC Official Criticizes Distinction Between Institutional Investors and General Public as XRP Gains Popularity After Ruling Win
Title: XRP Surges After Landmark Ruling Amid Criticism of Distinguishing Between Institutional Investors and the General Public Subtitle: XRP Price Still Up 50% Despite Post-Ruling Price Correction LunarCrush, a social analytics company, has noticed a rapid increase in XRP social engagement. The coin even managed to overtake Ethereum and Bitcoin. Despite a price correction following the ruling, XRP is still trading 50% higher than it was a...
Former SEC Official Criticizes Distinction Between Institutional Investors and General Public as XRP Gains Popularity After Ruling Win
Title: XRP Surges After Groundbreaking Ruling Amid Criticism of Distinction Between Institutional Investors and the General Public
Subtitle: XRP price is still up 50% despite the post-ruling price correction
XRP, Ripple's payments-focused cryptocurrency, has surged in popularity following a landmark ruling in one of the longest and most difficult legal battles in the company's history. LunarCrush, a social analytics company, has noticed a rapid increase in XRP social engagement. The coin even managed to overtake Ethereum and Bitcoin. Despite a price correction following the ruling, XRP is still trading 50% higher than a month ago.
However, the ruling in the XRP litigation has not only drawn applause. A former US Securities and Exchange Commission official, John Reed Stark, criticized the ruling and pointed out fundamental flaws. He expressed concerns that institutional investors and the general public are being treated differently. The ruling states that XRP counts as a security when sold to institutional investors, but not when sold to the general public.
Stark argued that retail investors had as much access to information as institutional investors and therefore knew about Ripple and its intentions. He disputes the notion that retail investors were ignorant and says they should not be treated condescendingly.
It remains to be seen how the SEC will react to the ruling. Bloomberg reports that the regulator is reviewing the ruling and considering taking action against it.
Despite the criticism and uncertainty over the SEC's next steps, XRP remains popular among investors and has attracted a lot of attention on social media. With the current price increase of 50% in a month, XRP is a cryptocurrency to keep watching.