Cryptocurrencies Price Prediction: Ripple, Ethereum & Polygon – European Wrap 19 June

XRP slips under $0.50 as Ripple proponents slam SEC for dropping Ethereum probe

XRP trades back below $0.50 on Wednesday as Ripple (XRP) proponents like attorney Bill Morgan have lashed out at the Securities and Exchange Commission (SEC) for what is being considered a “second free pass” for Ethereum. 

Ethereum developer Consensys announced on Wednesday in its official X account that the SEC is putting an end to its investigation into the second-largest cryptocurrency. The developer had enquired the status of the investigation through a letter sent to the regulator and received a response. 

Ethereum survives SEC scrutiny: Enforcement division closes investigation into Ether, Consensys says

Ethereum (ETH) received a free pass from the US Securities and Exchange Commission (SEC) as the regulator decided to drop its investigation into ETH for allegedly selling the token as a security. 

Consensys, an Ethereum developer, shared the news in a tweet on Wednesday. The developer said that the SEC’s enforcement division has notified them that the investigation into Ethereum 2.0 is being closed. The SEC hasn’t officially confirmed the news. 

Polygon MATIC poised for 10% rally as momentum indicators signal strength

Polygon (MATIC) price displays a bullish divergence on a momentum indicator, indicating a bullish move. Recent on-chain data reveals a capitulation event occurred from June 12 to 18, prompting a group of whales to accumulate MATIC tokens, further bolstering bullish sentiment for an upward trajectory.

Polygon price retested its weekly support level of $0.509 on Tuesday and bounced 8% to $0.572, where it is currently trading. Additionally, the lower low formed on June 18 does not reflect the Relative Strength Index’s (RSI) higher highs for the same period. This development is termed a bullish divergence and often leads to the reversal of the trend or a short-term rally.