In a bold move, Ripple’s Chief Legal Officer, Stuart Alderoty, accused the U.S. Securities and Exchange Commission (SEC) of orchestrating a prolonged artificial suppression of the crypto market.Taking to X (formerly Twitter), Alderoty remarked, “Turns out, the only ‘efforts of others’ that truly moved crypto markets—by causing massive and prolonged artificial suppression—were those of the SEC.” His remarks highlight growing tensions between crypto firms and regulatory authorities, particularly under SEC Chair Gary Gensler’s leadership.<h3 id="the-ripple-effect-of-sec-actions">The Ripple Effect of SEC Actions</h3>The SEC’s aggressive stance on cryptocurrency regulation has been a hot topic. Since December 2020, the agency has been embroiled in a high-profile lawsuit against Ripple, alleging the company sold XRP as an unregistered security. Ripple&#39;s legal battle is one of many brought against crypto companies, including Coinbase and Binance, under Gensler’s tenure.Alderoty has consistently criticized the SEC’s actions, likening its record fine collections to a failing professor boasting about students’ poor performance. “It’s not a measure of success,” he argued, “but an indictment of oversight gone terribly wrong, driven by perverse incentives.”These comments resonate with others in the financial and regulatory spheres. Former CFTC Chair Chris Giancarlo recently urged regulatory agencies to resolve or dismiss cases like Ripple’s, stating in a Fox Business interview, “It’s time for regulatory agencies to drop a lot of these cases.”<h3 id="xrp-s-meteoric-rise">XRP’s Meteoric Rise</h3>Ripple’s ongoing battle with the SEC has not stopped XRP from achieving remarkable gains. The token recently surged 404% from November 4, reaching a nearly seven-year high of $2.50. Analysts attribute this rally to several factors, including improved sentiment following the announcement of Gensler’s departure in January, the growing possibility of a U.S.-based XRP exchange-traded fund (ETF), and XRP&#39;s three-year accumulation phase.WisdomTree has joined a competitive race to launch an XRP spot ETF, alongside Bitwise, 21Shares, and Canary. XRP inflows hit a record $95 million as institutional interest grows.The token&#39;s market capitalization skyrocketed to $139 billion from under $30 billion in November, briefly making XRP the third-largest cryptocurrency by market cap. “Such a lengthy accumulation phase often results in robust rallies,” noted Arthur Azizov, CEO of B2BinPay.<h3 id="bright-prospects-for-xrp">Bright Prospects for XRP</h3>With the regulatory landscape potentially softening and growing institutional interest, analysts believe XRP may soon surpass its 2017 all-time high, cementing its position as a market leader. Optimism around the broader crypto market also suggests a shift in momentum as regulators reconsider their approach under new leadership.Ripple’s ongoing fight against the SEC highlights the broader challenge of balancing regulatory oversight with fostering innovation. For now, XRP’s dramatic rally serves as a beacon of resilience in a turbulent market. Whether Ripple’s legal triumphs can mirror its market success remains to be seen, but the crypto world is watching intently.If you want to read more articles like this, visit<a href="https://defi-planet.com/" rel="noopener noreferrer nofollow"> DeFi Planet</a> and follow us on<a href="https://twitter.com/PlanetDefi" rel="noopener noreferrer nofollow"> Twitter</a>,<a href="https://www.linkedin.com/company/defi-planet/" rel="noopener noreferrer nofollow"> LinkedIn</a>,<a href="https://www.facebook.com/DeFi-Planet-129907662611402" rel="noopener noreferrer nofollow"> Facebook</a>,<a href="https://www.instagram.com/defi.planet/" rel="noopener noreferrer nofollow"> Instagram</a>, and<a href="https://coinmarketcap.com/community/profile/DeFiPlanet/" rel="noopener noreferrer nofollow"> CoinMarketCap Community</a>.“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Ripple CLO Accuses SEC of Market Suppression as XRP Surges to Seven-Year High

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