The long-running battle between Ripple and the SEC may not be over, but its effect on its native cryptocurrency may now be worse.
After the last bug where it seemed like the payment processing company was making progress, Vibe [XRP] became the victim of an assault.
Ethereum founder Vitalik Buterin led the attack on the cryptocurrency in what appeared to be a “recovery time.”
While applauding the Ethereal [ETH] community for resistance to regulation, Vitalik said Ripple’s plight should not be supported and XRP should not be protected.
XRP already lost its right to protection when they tried to throw us under the bus as “Chinese controlled” in my opinion: https://t.co/t6cbMtjsEV
— vitalik.eth (@VitalikButerin) August 17, 2022
The comment did not go over well with the crypto community, especially on the XRP end.
However, Vitalik noted that he did not suddenly withdraw support for the coin, but instead has been avoiding the sixth-ranked cryptocurrency since its parent company. I call ETH “controlled by China”.
The event that occurred in December 2020 seems not to have left the mind of the founder of ETH.
Vitalik was not the only crypto leader involved in the XRP coup. Initially, the founder of Bankless, David Hoffman, had investigated the cryptocurrency.
Weather interrogation The recent regulation of Canada to establish purchase limits in Bitcoin [BTC]Ethereal [ETH], and other altcoins, Hoffman had said he wouldn’t have worried about the implications if it was just XRP. He further said,
“If they had restricted XRP, I wouldn’t have said anything.”
“We are innocent”
Interestingly, the tug-of-war did not end with Vitalik’s rebuttal. Deaton Law Firm managing partner John Deaton, who is also part of the XRP community, responded to Vialik’s comments.
The indicated that neither XRP nor its 72,000 holders should take responsibility for Ripple’s misdeeds.
He added that everything that happened in 2020 was in the Ripple team led by its founder, Brad Garlinghouse.
With Ethereum gearing up for its Merger, and Ripple expecting its SEC case to close soon, neither cryptocurrency seemed to have made much progress.
As for the price of ETH, it has decreased. According to CoinMarketCap, it had fallen 0.57% to trade at $1,856.81 at press time.
XRP, on the other hand, had Recorded a 1.57% rally, trading at $0.375.
There has also been a 10.98% decrease in XRP volume, while ETH volume did not decrease much.
At press time, it was just down 0.48% to $17.70 billion, suggesting trading activity in ETH was quite active.