Ripple SEC Victory Influenced by XRP Army Advocacy
- Ripple’s SEC case win shows XRP Army’s critical role.
- Price of XRP surged by 72% following the ruling.
- Ripple’s verdict sets precedent for future regulatory cases.
Ripple’s legal triumph over the SEC in July 2023 highlighted the critical role of the XRP Army in the case, decided by Judge Analisa Torres.
The verdict, affirming most XRP sales on exchanges aren’t securities, spurred XRP’s price surge and reshaped regulatory landscapes.
Ripple’s legal victory over the SEC was greatly impacted by the advocacy of the XRP Army. The community’s coordination played a significant role in the favorable ruling in July 2023, stating most XRP sales weren’t considered securities.
The lawsuit involved Ripple Labs with CEO Brad Garlinghouse and CTO David Schwartz. Community efforts, spearheaded by John E. Deaton, aided in filing key legal briefs, providing crucial evidence in Ripple’s defense, impacting the ruling.
Following the court’s decision, the XRP market reacted positively, with the price surging from $0.47 to $0.81 immediately post-ruling. This market confidence highlighted Ripple’s restored credibility and XRP’s compliance in exchanges.
The case has reinforced institutional trust in XRP’s regulatory status. Though no direct funding increase was reported, the victory supports XRP’s ongoing utilization in cross-border transactions, marking a strategic boost for Ripple’s ecosystem.
Ripple’s case sets a legal precedent, affecting token sale regulations across the crypto industry. This ruling differentiates between institutional and retail digital asset sales under the Howey Test, potentially influencing future SEC cases.
The ruling may lead to expanded regulatory clarity for utility tokens, as seen in increased liquidity and market resilience. Positive developments reaffirm XRP’s role, potentially shaping future digital asset frameworks and standards in the U.S.
“No credible person can argue that the XRP Army didn’t make a difference in the Ripple case. If they do they’re either ignorant to the facts and truth or intentionally lying. We have conclusive evidence that we made a difference. There were over 2K exhibits filed in the case.” — John E. Deaton, Crypto Attorney
