Brad Garlinghouse allows that Ripple can abandon XRP, and ethereum breaks the level of $2000

2 min readApr 2, 2021

Brad Garlinghouse allows that Ripple can abandon XRP

The head of Ripple, Brad Garlinghouse, admitted the company’s abandonment of XRP and the option of creating an alternative product. The entrepreneur noted that if the court agrees with the opinion of the SEC, any project that develops its own altcoin may face an accusation that it is a security.

“As you may know and may recall, J. Clayton as the chair of the SEC, the day before he left office, brought this lawsuit against Ripple and against me personally. You know we don’t think that made a lot of sense given that XRP had been trading for eight years. And so, to do that the day before he leaves his position, I think it was misguided. I’m hopeful with Gary Gensler and the new chair likely to be confirmed in a couple of weeks. There’s an opportunity to have a conversation with that new leadership as he brings his team in, ” Garlinghouse said.

The entrepreneur previously stated that Ripple completely disagrees with the SEC on the classification of the XRP token. Garlinghouse pointed out that among regulators in other developed countries, only the SEC considers cryptocurrency a security.

Ethereum breaks the $ 2,000 level

Today, April 2, the second most popular cryptocurrency has crossed the psychological mark of $ 2,000. According to Coinmarketcap data, ETH has risen in price by almost 5% in 24 hours, and by 23.81% in the last seven days.

On February 20 of this year, the crypto coin showed a historical maximum, having risen in price to $2,040. However, the next day ethereum dropped below $2,000. Entrepreneur Mark Cuban said ETH is “adapting over time” with developers improving its ecosystem.

“I have a lot of ethereum as well [30% of my portfolio]. I wish I had bought it sooner, but I started buying it four years ago, simply because I think it’s the closest we have to a true currency, ”he said in a recent interview.