The SEC Chair Gary Gensler's testimony before Congress has drawn attention from the XRP community. His refusal to answer if Ethereum is a commodity or security made Kaj Leroy, founder of XRP Ledger projects, call it "extremely bullish" for Ripple. Gensler's credibility got questioned by lawyer Bill Morgan, who expressed why the SEC hasn't clarified Ethereum's status after nine years and $9 billion daily trading volume. John Deaton, the XRP holders' representative suggested that the hearing brought an end to all unanswered questions about Gensler and his motives.

The SEC's actions against Ripple have definitely made the XRP community upset. Many people believe that the SEC has been overly aggressive with the regulations and have hampered Ripple's ability to conduct its operations. The ongoing legal battle between the SEC and Ripple isn't likely to be resolved in the short term. Nevertheless, the latest developments indicate that the XRP community is getting more and more in support of Ripple and is rising against the SEC's enforcement.

Notwithstanding, over the past few months, many investors, venture capitalists and entrepreneurs have started to invest in the XRP platform and its related ventures. This might be due to the potential Ripple’s technology has to revolutionize global payments, making them faster and more secure. This will help fund projects in the XRP economy, creating more value in the long run. Therefore, the latest developments around SEC's stance on Ripple, even if they have proved to be aggressive, may also serve as opportunities for further growth.



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