A popular media personality says “XRP investment is not gonna make you rich”

On Apr 1, 2024

Charles Gasparino explained why XRP may not bring better chances for investors, despite bull sentiments in the crypto market.

XRP is a popular Proof-of-stake (PoS) crypto token which is mainly known for its high-speed transaction & use in the cross-border payment services by the San Francisco headquartered fintech firm Ripple. Ripple has been in huge legal hurdles since Dec 2020 because of a suit filed by the United States Securities and Exchange Commission (SEC) in link to the use of XRP coin in the payment services by the company in an inappropriate way. Also, the SEC body called the XRP coin an unregistered securities token.

Recently a media personality and FOX Business Senior Correspondent Charles Gasparino shared his opinion on the Ripple vs SEC case on behalf of the ongoing conflict between the SEC body & Ethereum Foundation, a non-profit organisation behind the Ethereum crypto project which manages the development activities around the Ethereum blockchain.

According to Gasparino, if the SEC chairman Gary Gensler will consider the Ethereum (ETH) coin as a security token then the legal clarity on the nature of the XRP coin will turn into the appellate division thought court judge Torres already ruled XRP coin as a non-security token in this Ripple vs SEC case in the mid of 2023.

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Furthermore, Gasparino clearly warned XRP coin investors that they will face huge losses for their investment in this cryptocurrency, on behalf of the next move by the SEC body in the Ethereum case.

One thing the $XRP chasers might want to consider: If @GaryGensler considers $ETH a security, the @SECGov will stop at nothing in getting Torres's weird half-baked @Ripple ruling over turned in the appellate division, and he has a good shot doing so. In other words, you are…
— Charles Gasparino (@CGasparino) March 28, 2024

However some people supported this fact but the majority of the XRP crypto proponents criticised Gasparino badly, for degrading the confidence of XRP supporters.

It is worth it to note that Gasparino convinced his followers that the SEC body had a chance to turn the Ripple vs SEC case, despite Ripple already won the case partially, but we can see that the SEC body already faced rejection by the court judge when tried to appeal against the court ruling.