The Securities and Exchange Commission (SEC) has announced that it is likely to close its investigation into Ethereum, sparking mixed reactions in the crypto market. While Ethereum's regulatory clearance led to a rebound in crypto prices, the XRP community has reacted with frustration and skepticism, citing preferential treatment by the SEC. The XRP community has long alleged that Ethereum received favorable treatment, often referred to as "ETHGate."

Bill Morgan, a prominent XRP enthusiast and attorney, expressed dissatisfaction with the SEC's decision, noting that it marks Ethereum's second "free pass" from the SEC. He highlighted the controversy surrounding the Hinman speech, in which former SEC Director William Hinman stated that Ethereum was not a security. Morgan believes that this speech set a precedent that unfairly benefited ETH, while leaving Ripple, the company associated with XRP, open to legal challenges.

Other XRP supporters echoed these sentiments, calling for legal action against the SEC and alleging that the Ethereum community used financial influence to secure favorable regulatory outcomes. The XRP community's outrage stems from the perceived arbitrary and inconsistent regulatory practices by the SEC.

The controversy has sparked a heated debate in the crypto community, with some calling for greater regulatory clarity and others accusing the SEC of favoritism. The outcome of this controversy remains to be seen, but one thing is clear - the XRP community will continue to voice its frustration and skepticism until it receives the clarity and fairness it demands.

Additional points:

The SEC's decision to close its investigation into Ethereum has sparked mixed reactions in the crypto market.

The XRP community has reacted with frustration and skepticism, citing preferential treatment by the SEC.

Bill Morgan, a prominent XRP enthusiast and attorney, has expressed dissatisfaction with the SEC's decision.

The controversy surrounding the Hinman speech has been cited as a key point of contention.

The XRP community has called for legal action against the SEC and greater regulatory clarity.

The outcome of this controversy remains to be seen, but the XRP community will continue to voice its frustration and skepticism until it receives the clarity and fairness it demands.