XRP’s Flat Movement Amid Ripple vs. U.S. SEC Legal Battle
XRP, the cryptocurrency that often garners attention, is currently experiencing a slight downward trend, which could indicate a bearish market sentiment. The stagnant movement of XRP is primarily attributed to the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), with no significant updates provided. Furthermore, there is curiosity surrounding why Vitalik Buterin, the co-founder of Ethereum, was involved with XRP and Ripple in 2015.
Buterin’s Genuine Interest in Ripple
A recent post by Steven Nerayoff, a former advisor to Ethereum, has shed light on Vitalik Buterin’s connection to XRP and Ripple in 2015. Nerayoff clarified that Buterin’s interest in Ripple was indeed genuine, bringing transparency to a previously mysterious topic.
No idea. He told me he wanted to implement smart contracts on Bitcoin but the devs didn’t want it. I spoke to him about Ripple but that was bc I had met the Ripple folks and used them as an example of how a company should be operated in this space. Ripple has been following me…
— Steven Nerayoff (@StevenNerayoff) September 23, 2023
Controversy Surrounding Buterin’s Involvement
The story takes an interesting turn with insights from Matt Hamilton, a former director at Ripple. Hamilton revealed that Buterin had expressed interest in interning at Ripple and even stayed overnight at the residence of Ripple’s CTO, David Schwartz. This revelation sparked speculation within the crypto community, leading many to draw conclusions.
While some saw this as a potential conspiracy, others speculated about what could have happened if Buterin had continued his involvement with Ripple. Some suggested that he might have gained knowledge about XRP’s powerful Consensus Algorithm and potentially implemented it into Ethereum, strengthening its position in the blockchain industry.
Buterin’s Multifaceted Interests
Nerayoff’s revelations provide a broader understanding of Vitalik Buterin’s interests. Beyond Ripple, Buterin had also aimed to introduce smart contracts to Bitcoin, but faced opposition from developers. His discussions with Ripple representatives were centered around sharing effective operational practices in the blockchain industry, potentially indicating a joint effort to elevate the industry as a whole.
Attention XRP Traders!
Although these revelations relate to the past, they are important for XRP traders who need to decide which side they are on in the SEC vs. Ripple lawsuit. Despite a slight fall today, XRP’s price is approaching the resistance level of $0.5109 after a minor dip. If buyers maintain their momentum, a breakout could lead to further growth around the $0.5140 mark. However, on the daily chart, XRP remains stagnant and is currently trading within yesterday’s levels, suggesting sideways movement in the coming days.
Several positive factors contribute to XRP’s potential for a rebound, such as the possibility of a settlement in the SEC vs. Ripple lawsuit and statements made by Ripple CEO Brad Garlinghouse at Mainnet 2023 that lay the foundation for a potential price recovery.
Hot Take: The Intriguing Connection Between Vitalik Buterin and XRP
The recent revelations about Vitalik Buterin’s involvement with XRP and Ripple have sparked curiosity within the crypto community. While some may view it as a potential conspiracy, the evidence suggests that Buterin’s interest was genuine. The implications of his interactions with Ripple and XRP remain a subject of debate, leaving room for speculation about his true intentions. As XRP continues to navigate the legal battle with the SEC, traders should pay attention to the potential impact of these revelations on the cryptocurrency’s future.
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