Turning Point for XRP: Comparing with Ethereum for SEC Decision! - Koin Bulletin

It was reported that the ongoing case between the U.S. Securities and Exchange Commission (SEC) and Ripple is nearing its end, and now XRP's status is reported to be compared with Ethereum (ETH).

According to Fox Business, the SEC is considering Ethereum as an example to decide whether XRP is a security or a commodity. As reported by Fox Business senior correspondent Charles Gasparino, the initial offering of Ethereum and the sale of XRP by Ripple were similarly conducted to provide funding for the development of platforms. However, while the SEC acknowledges Ethereum's evolution into a commodity over time, it sued Ripple.

The SEC's main argument is that Ethereum is currently being traded completely as a commodity. The Commission is trying to assess whether a similar situation is valid for XRP as well. If it is accepted that XRP is also in commodity status like ETH, it is suggested that the lawsuit against Ripple could weaken.

This development could be a critical turning point for Ripple, which has been battling with the SEC for a long time. If a decision comes out that XRP is not a security, this situation could create a major turning point for both Ripple's operations and the cryptocurrency sector.

Fox Business reporter Eleanor Terrett had reported yesterday that the legal battle between Ripple and the SEC would be concluded shortly and that the parties were close to reaching a settlement.