Ripple vs. Stellar: McCaleb's Jab Sparks Crypto Feud

The XRP community has slammed Stellar founder Jed McCaleb after he took a jab at Ripple Labs in a controversial post on Twitter. McCaleb, who is also the founder of the "Build on Stellar" project, criticized Ripple over its ongoing class-action lawsuit with the U.S. Securities and Exchange Commission (SEC) regarding its token XRP.

The feud between the two cryptocurrency projects has been brewing for some time, with unresolved conflicts remaining between them since McCaleb left Ripple to co-found Stellar. The XRP community, already upset about the legal battle with the SEC, sees McCaleb's actions as part of a larger issue.

The Stellar post that sparked the drama was a simple comment on Twitter from the "Build on Stellar" official account. "imagine spending more on lawyers than developers and calling it progress," Stellar posted on February 8. The post quickly stirred up trouble, with some believing it was a casual comment and others feeling it was a planned attack.

The Stellar post received backlash from the XRP community, with John Deaton, a legal representative for XRP holders in the lawsuit against the SEC, criticizing McCaleb for attacking a company he once co-founded. Ripple's chief technology officer, David Schwartz, also fired back at McCaleb, stating that if you go after the king, you might as well not miss.

The legal battle between Ripple Labs and the SEC is far from over. In January, the SEC appealed a recent court decision that partly favored Ripple, arguing that XRP is not a security in secondary market transactions. The case is now under review by the U.S. Court of Appeals. Meanwhile, the SEC has made changes within its team, moving key staff members to new roles, which has led to speculation about the agency's next steps in crypto enforcement.

The outcome of this appeal could have significant consequences for both Ripple and the broader crypto industry. XRP's price has dropped recently, falling 6% in the last 24 hours and 24% in the past week as the lawsuit unfolds. The XRP community is closely watching the developments in the case and has been vocal in its support of Ripple.