• The SEC has had a significant impact on the Ripple network and its native token, XRP.
• Legal expert Jeremy Hogan claims that Ripple’s actions have little to no effect on XRP prices, but that the SEC has most of the impact.
• He made this comment in response to a tweet about XRP’s recent price decline after the SEC requested an Interlocutory Appeal.
The Impact of SEC on XRP Prices
The U.S. Securities and Exchange Commission (SEC) has been involved with cryptocurrency market for some time now, particularly in its legal battle with Ripple Network and its native token, XRP. As such, many have speculated that this lawsuit might be influencing the perception of Ripple blockchain and its position in global blockchain industry. However, a prominent figure maintains that XRP is not being affected by any of Ripple’s actions – instead, it is mainly influenced by the SEC itself.
Jeremy Hogan’s Comments
Lawyer Jeremy Hogan took to Twitter to share his thoughts on this issue, claiming that „actually nothing Ripple does has any real effect on XRP price, only the actions of the SEC change its price… strange.“ He made this comment in response to a tweet from other market participants who highlighted XRP’s recent price decline after SEC requested an Interlocutory Appeal; one which resulted in 2.44% drop in value within 1-hour timeframe as it began trading at $0.62 instead of $0.66 daily high it had previously reached.
Hogan also shared a screenshot depicting an increase in selling pressure shortly after filing was released by SEC publically; sarcastically adding „the SEC’s handiwork – always protecting investors“. This statement implies that despite constantly claiming their goal is to protect investors‘ rights and interests they might be doing exact opposite through their actions when it comes to cryptocurrency industry players like Ripple Network and its native token XRP .
Ripple Network & Its Native Token
So far there hasn’t been much evidence or research done which would prove if there is a direct correlation between ripple network’s activities and changes that occur with regards to its native token xrp , although some people still believe so . It seems like even if there were such linkages they wouldn’t be as influential as ones caused by regulatory body like sec , since they are ultimately responsible for making decisions which can potentially affect entire crypto space .
In conclusion , while ripple network’s activities might have had some influence over market perception of ripple blockchain or even global blockchain industry , lawyer jeremy hogan insists that xrp token itself isn’t being affected by those activities directly but rather moreso by decisions made by sec itself whenever new regulations are introduced or amended .