Ethereum

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In a recent post on the X social media network, Charles Gasparino, a prominent reporter at the Fox Business channel, has&nbsp;<a href="https://twitter.com/CGasparino/status/1773308680416452786" rel="noopener noreferrer nofollow">warned</a> XRP holders that they "might be getting poor" depending on how things turn out for Ripple.&nbsp;
"In other words, you are probably not getting rich on XRP and might be getting poor depending on how this shakes out," he wrote on the X social media network.&nbsp;
Gasparino's bearish prediction stems from the fact that Ripple, the controversial company associated with the token, is still not out of the woods when it comes to its years-long legal battle against the U.S. Securities and Exchange Commission.&nbsp;
According to the Fox Business host, the SEC will stop at nothing to overturn the ruling by U.S. District Judge Analisa Torres in the Ripple case.
As&nbsp;<a href="https://u.today/pro-xrp-lawyer-rebukes-judge-torres-critics" rel="noopener noreferrer nofollow">reported by U.Today</a>, the judge found that Ripple violated security laws with its institutional sales. However, secondary XRP sales did not constitute investment contracts in a win for the San Francisco-based company.
The price of the XRP token briefly surpassed the $0.8 level following the favorable ruling in July. However, it quickly gave up its gains.&nbsp;
At press time, the Ripple-affiliated cryptocurrency is trading at $0.62. Despite the broader market rally led by Bitcoin, it has so far failed to reclaim its post-ruling high.&nbsp;
The SEC has signaled that it will appeal the ruling in the Ripple case. Since the regulator is now also waging an aggressive campaign to classify Ethereum as a security, Gasparino believes that XRP will not be spared.&nbsp;&nbsp;On top of appealing the case, Ripple is also facing more than $2 billion in penalties and fines, according to the SEC's&nbsp;<a href="https://u.today/sec-v-ripple-key-details-from-2-billion-motion-for-remedies" rel="noopener noreferrer nofollow">latest motion</a>.

XRP Might Make You Poor, Says Fox Business Journalist

U_Today

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