Ripple CEO Brad Garlinghouse commented on a claim regarding the Ethereum decentralization test in the context of the SEC vs XRP case.
Garlinghouse's Response
Brad Garlinghouse responded to a claim by journalist Charles Gasparino that the U.S. SEC considers XRP to have passed the Ethereum decentralization test. Garlinghouse stated, 'There is no Ethereum decentralization test at the SEC. This is fiction.'
What is the Decentralization Test?
Gasparino cited Garlinghouse's video announcing the end of the legal battle with the SEC. The SEC alleges that Ripple violated U.S. securities laws by selling $1.3 billion worth of XRP. While the accuracy of the term 'Ethereum test' is in question, it is known that the SEC often uses the Howey Test to determine whether assets are securities.
XRP Market Trends
Analysts are closely watching XRP's market movements amid news deemed bullish by the XRP community. The crypto is up 13.2% in the last 24 hours, now trading above $2.5. Some experts suggest this might indicate the start of a strong upward trend.
Faced with conflicting interpretations, the future of XRP remains a hot topic of discussion. However, its recent rise has garnered the attention of many market participants.
