- Pro-XRP lawyer criticizes Sen. Warren’s cryptocurrency oversight
- XRP continues to ride a particularly bullish wave.on social media
Tensions in the ongoing debate over cryptocurrency regulation escalated after pro-XRP lawyer John Deaton responded to Sen. Elizabeth Warren’s recent comments during a U.S. Senate Banking Committee hearing.
Sen. Warren’s advocacy for increased oversight of crypto validators and stablecoin users has drawn criticism from Deaton. At the time, he highlighted the widening gap between crypto supporters and policymakers.
In a recent post on X (formerly Twitter) he said: commented,
“@senwallen has shown time and time again that he prefers playing politics to finding real solutions.”
The clash also highlights the complexity and impact of regulating blockchain technology, and the reactions it can provoke within a very vocal community.
XRP bullish momentum despite SEC lawsuit
Increased market volatility has surfaced against the backdrop of Ripple’s ongoing lawsuit with the SEC. As expected, this raised concerns about a potential increase in supply. However, Coinglass data revealed that the altcoin is still following a bullish trend on the charts.
Reflecting similar sentiments, XRP was up 3.41% on the weekly chart at the time of writing. What this means is that despite the short-term volatility, the surge in open interest and derivatives trading volumes is increasing trader confidence and is a sign of positive momentum.
Needless to say, social media is also abuzz with optimism, with some commenting on Yoshitaka Kitao’s latest comments. @RippleXrpie sheds light on SBI CEO’s recent achievements I got it.,
“Buuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuu ! ’! SBI CEO: “Every bank in Japan will be using #XRP by 2025.” Brad Garlinghouse: “2024 is going to be big!”
Others like @UniverseTwenty said,
#XRP 1$+ by the end of April. ”
Garlinghouse Optimism for XRP ETF
It’s not just people on social media who are feeling hopeful. For example, when asked about the possibility of an XRP ETF, paris blockchain weekRipple CEO Brad Garlinghouse said:
“I’m not saying just buy Bitcoin or just buy XRP. I’m saying you want to invest in a basket and diversify your investments.”
He further added:
“In the United States, there are only two cryptocurrencies that have clear regulations: Bitcoin and XRP, which was challenged in court. It is clear in the regulations that they are not securities. I think that is different, and that is important!
Garlinghouse was quick to say that there will likely be other ETFs in the U.S. besides Bitcoin ETFs. At the time of writing, XRP is recording signs of recovery, and the coming months could be very positive for altcoins.
