XRP community anticipates free pass for Ripple after SEC drops investigation into Ethereum

• Ripple holders react to news of the US SEC dropping its investigation into Ethereum, expecting a similar treatment for the altcoin. 
• Ripple’s Chief Legal Officer Stuart Alderoty poses questions as holders digest the SEC’s decision. 
• XRP price ticks up on Thursday amidst speculation of the SEC’s next steps in the lawsuit against Ripple. 

Ripple (XRP) holders debate the future of the altcoin on Thursday, which could be closely related to the US Securities and Exchange Commission’s (SEC) next step following its decision to end the investigation into Ethereum (ETH). 

XRP edges up slightly on Thursday as the pro-Ripple community hopes for a similar treatment by the US regulator. 

Daily digest market movers: Ripple holders hope for SEC U-turn

• US SEC dropped their investigation into Ethereum, Consensys founder Joseph Lubin said on Wednesday. 
• The SEC’s decision was slammed by the XRP holder community and pro-Ripple attorney Bill Morgan, who said that Ethereum and Ripple’s different treatment will show how arbitrary the SEC has been in crypto.
• XRP community members on X are debating whether the SEC will treat Ripple in the same way as Ethereum. Trader behind the X handle @XRPcryptowolf asks the community why the SEC withdrew its lawsuit against Ethereum Consensys but not the XRP case.

• Ripple’s Chief Legal Officer Stuart Alderoty raised questions on the SEC’s treatment of Ethereum. Alderoty acknowledged the SEC’s decision as a win for Ethereum developer Consensys and noted that several questions remain unanswered: “Does this mean the SEC thinks Consensys’ offers and sales of ETH are not securities transactions and/or that ETH itself is not a security? What will [SEC Chair Gary] Gensler say if now asked?  What is the status of MetaMask and staking?”  

• Crypto analyst and influencer behind the handle @CryptoWendyO asked why Ripple is in legal trouble with the SEC  but not Ethereum. 

Technical analysis: XRP gains nearly 1%, defying concerns surrounding SEC’s free pass to Ether

XRP gained nearly 1% on Thursday, as seen on the daily chart. The altcoin is trading at $0.4963 on Binance at the time of writing, gaining nearly 1% in the past seven days but losing nearly 8% in the past 30 days. 

The Moving Average Convergence Divergence (MACD) line crossed over the signal line, with green histogram bars flashing above the neutral line, supporting a bullish thesis for XRP. If this upside scenario unfolds, Ripple could rally towards resistance at $0.5326, coinciding with the June 5 high. 

XRP/USDT 1-day chart 

On the contrary, if Ripple closes under $0.4665, the April 19 low, it could invalidate the bullish thesis. XRP could find the next support at the June 7 low of $0.4508.