Ripple CEO Brad Garlinghouse Reveals Crypto Portfolio, Calls Out SEC's Latest Stance on Ethereum

Ripple CEO Brad Garlinghouse says his crypto portfolio includes Ethereum (ETH) and that he disagrees with the U.S. Securities and Exchange Commission's (SEC) latest statements regarding the leading smart contract platform.

Timeline of Ethereum, Xrp

With the Ethereum Merge event now successfully completed, new proof-of-work (PoW) forks have emerged to vie for miner acceptance. This, as the United States government, has warned that the post-quantum world is getting closer, and vulnerable cryptography will need to be protected. Amidst red hot inflation in the U.S.

A closely followed crypto strategist is predicting big rallies for XRP as the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) heats up. The SEC sued Ripple in late 2020 under allegations that it issued XRP as an unregistered security.

Of late, XRP has received a lot of media attention, in part due to its legal disputes with the SEC and partly owing to its appreciating price trend. In fact, data from LunarCrush indicates that XRP's social engagements and mentions have also seen a favorable response lately.

Apart from the general market decline, which held ETH at the cycle lows, there were both positive and negative responses to the buildup to The Merge. About 4.19 million ETH worth $5.32 billion had already been sold by holders prior to the event on September 15.

Despite the bearish trend, few altcoins are staging a few significant rallies this week. XRP has mounted a fresh rally as it has broken above the moving average lines, signaling an uptrend. Bulls have re-established bullish momentum in the cryptocurrency after breaking through the overhead resistance at $0.41. Due to early resistance at $0.

Ethereum price has been trading within a descending trendline, which is a sign of bearishness. Over the last 24 hours, the Ethereum price has been different as the coin registered a 6% appreciation.

The currency of the blockchain-powered online payment platform, XRP, has gained almost 60% in the past week. After briefly dipping to $0.34 five days ago, the token climbed back and traded around $0.52 this morning.

Uniswap [UNI] broke into the top cryptocurrencies held by the top 100 Ethereum [ETH] whales lately. According to prominent whale tracker, WhaleStats, UNI, shook off competition from other smart contracts protocol to gain the position.

Following the last red days, ETH has hit the support area between the white descending line and the price range at $1,220-$1,280 (in green). So far, the bulls have successfully maintained the high selling pressure; however, the situation is still fragile.

In another twist of the legal tussle between the U.S. Securities and Exchange Commission (SEC) and Ripple, the U.S. blockchain company has filed a motion objecting to the SEC's suggestion that it will need more time or pages to respond to briefs submitted by amici curiae.