The XRP army has long claimed to be more than just a noisy retail mass.
Now, with Ripple’s four-year match against the US security and exchange commission closed, both the referee and Ripple’s lawyers say they made a difference.
Crypto -Attorney John Deaton, who filed an amicus brief on holders of holders, said in a Wednesday X post that anyone who refuses their role “is either unaware of the facts and truth or intentionally lies.”
Judge Analisa Torres quoted Deaton’s archives, XRP keeps declarations and even arguments he made in a separate LBry case when he gave up that XRP itself is not a security.
“Had she not mentioned these things, people could legitimately discuss whether our efforts made a real difference. But the evidence is in the decision itself,” Deaton said.
Leaders inside Ripple agree. Deborah McCrimmon, Ripple’s Deputy General Attorney, Monday told Penta Podcast that the XRP army’s unpaid research was invaluable. Ripple had leaned on a “fair warning” defense, arguing that SEC could not give clarity on how crypto -providers used.
“We were looking for speeches, conversations, things that SEC or the government had said related to blockchain, Crypto, XRP, Ripple and the XRP army extracted it for us,” McCrimmon said. “I could have paid lawyers thousands of dollars to do it, and yet they found it and sent it on Twitter.”
SEC defendant Ripple in 2020 and accused it of raising funds through an unregistered securities sale. The case drew for years and became a lacquer test for how regulators would treat secondary sale of crypto -tokens.
In July 2023, Judge Torres gave that XRP sold on stock exchanges did not qualify as securities, while some institutional sale did. The mixed decision gave Ripple Breathing Room, but stopped shortly after a full win.
The legal battle officially ended in August when both sides fell appeal. At that time, XRP had already delivered dealers some of its wildest swings for years. The token rose 72% after the 2023 decision and jumped from $ 0.47 to $ 0.81. It tore to a highlight of all the time of $ 3.65 in July this year before striking back.
XRP is shopping near $ 2.85, down nearly 1% over the last 24 hours.
