The XRP army has long claimed to be more than a simple crowd of noisy retail.
Now, with Ripple’s four -year battle against Securities and Exchange American Commission, the judge and the lawyers of Ripple say they made a difference.
Crypto lawyer John Deaton, who filed a memory of Amicus on behalf of the holders, said in a post on Wednesday X that anyone denying his role “ignores the facts and the truth, the lie intentionally”.
Judge Analisa Torres quoted Deaton’s deposits, the Affidavits of holder XRP and even the arguments he has advanced in a separate LBRY case when they judge that XRP itself is not security.
“If she had not mentioned these things, people could legitimately debate if our efforts have made a real difference. But the proof is in the decision itself,” said Deaton.
The leaders inside Ripple agree. Deborah Mcrimmon, lawyer general of Ripple, told Podcast Penta on Monday that unpaid research of the XRP army was invaluable. Ripple had relied on a defense of “fair notice”, arguing that the dry had not given clarity on the way in which the laws on cryptography applied.
“We were looking for speeches, talks, things that the dry or the government had said concerning the blockchain, the crypto, the XRP, Ripple and the XRP army have undermined this for us,” said McCrimmon. “I could have paid lawyers thousands of dollars to do this, and yet they found it and published it on Twitter.”
The SEC continued Ripple in 2020, accusing it of raising funds thanks to a sale of unregistered securities. The case has dragged for years, becoming a decisive test on how regulators would deal with the secondary sales of cryptographic tokens.
In July 2023, Judge Torres ruled that XRP sold on scholarships was not considered titles, while certain institutional sales did it. The mixed decision gave Ripple RespiHing Room but stopped below a complete victory.
The legal struggle officially ended in August when the two parties abandoned the calls. Until then, XRP had already delivered traders some of its wildest oscillations for years. The token increased by 72% after the decision of 2023, from $ 0.47 to $ 0.81. He torn a summit of $ 3.65 in July this year before settling.
XRP is negotiated nearly $ 2.85, down almost 1% in the last 24 hours.
