Charles Hoskinson dismisses ETHGate scandal, argues Ethereum and XRP serve different ecosystems

Cardano founder Charles Hoskinson recently fired back at allegations surrounding the ETHGate scandal. For those out of the loop, this scandal purports that members of the Ethereum community allegedly bribed U.S. regulatory officials.

Timeline of Ethereum, Xrp

Ryan Sean Adams, one of the most vocal advocates for Ethereum, playfully opined that Ethereum's value dropping below the price of McDonald's would serve as the "ultimate bottom signal."

The crypto world has been buzzing with events, and among them is the Ripple Labs Inc. lawsuit with the US Securities and Exchange Commission (SEC). Ripple is the parent company behind XRP, and the asset has seen impressive sentiments as it got an inclusion in Hong Kong's top Index.

WallStreetBulls, a financial blog covering crypto and stock market news, reports that several top 5 global banks are now using XRP via Volante, a prominent global provider of cloud payment and financial messaging solutions. This development is seen as a noteworthy update for the XRP community and the crypto industry.

Ethereum's (ETH) value has experienced another decline this week, dropping to $1,557. This represents a 5% decline over the course of a week that has generally seen negative trends in the cryptocurrency market.

A closely followed crypto analyst says that traders may be underestimating Solana's (SOL) potential in the next bull market. In a new strategy session, the host of InvestAnswers says that his base-case thesis for SOL is that it should reach 10% of Ethereum's (ETH) market cap during the next market expansion.

Prominent crypto analyst Crypto Assets Guy (CAG) recently took to social media to offer a contrasting perspective on the future price of XRP, a popular cryptocurrency. Amid a flurry of optimistic forecasts suggesting that XRP could reach double or triple-digit values, CAG calls for a more grounded approach.

ETH's net issuance has been rising after bouncing from its 3-month low. The net issuance surged as high as 0.50%, which is not only the highest recorded during that period but also higher than Bitcoin.

Economists and market strategists are anticipating further ripple effects globally from the Middle East conflict, watching to see if the situation draws in other countries with the potential to increasingly drive up oil prices and send capital flowing to safehavens.

According to a Reuters article, the American Securities and Exchange Commission regulator does not intend to make an appeal regarding the recent court ruling in regard of Grayscale's Bitcoin spot ETF filing with the SEC. The article cites sources close to the matter.

Over the past two months, the XRP price has largely been confined to an ascending triangle pattern, a formation typically indicative of a bullish continuation. However, the recent crypto market downturn has led to a bearish break below this pattern's support trendline.