XRP Army Acknowledged for Impacting Ripple’s Legal Battle with SEC
Ripple’s legal struggles with the SEC, which began in 2020 over unregistered securities sales, have finally concluded, with notable recognition of the XRP Army’s influence on the case’s outcome.
What to know:
- The recent ruling in Ripple’s favor has stirred significant market activity, with XRP prices fluctuating dramatically.
- Legal teams and the judge credited the XRP Army for their support in the case, underscoring their role as more than just vocal supporters.
- The case was a pivotal moment for crypto regulation, highlighting the importance of community engagement in legal matters.
Judge Analisa Torres referenced amicus briefs and evidence presented by crypto enthusiasts in her ruling, noting that these contributions played a pivotal role in determining that XRP, in many instances, does not qualify as a security.
“Had she not cited those things, people could legitimately debate whether our efforts made a real difference. But the proof is in the decision itself,” Deaton stated.
Ripple officials acknowledged that the XRP Army’s efforts saved costs on legal research and generated valuable insights. This collaborative effort has proven that community support can influence major legal outcomes in the cryptocurrency sector.
As of now, XRP’s price settles around $2.85, following a notable surge earlier this summer.
