XRP Army Acknowledged for Influence in Ripple’s SEC Case Outcome

The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) concluded, with significant contributions from the XRP community acknowledged by both Ripple's lawyers and the presiding judge.

Judge Analisa Torres ruled that XRP is not a security in certain sales, citing contributions from XRP holders and lawyer John Deaton's arguments.
Deaton emphasized the importance of community efforts, claiming their input influenced the court's decision.
Ripple’s deputy general counsel, Deborah McCrimmon, stated that the XRP Army's research provided essential insights for their defense strategy.
The SEC initially sued Ripple in 2020 for unregistered securities sales, making this case pivotal for regulatory approaches to crypto.
In July 2023, the court ruled that while some institutional sales of XRP are securities, XRP sold on exchanges are not.
The case officially ended in August 2023 when both parties dropped appeals.
XRP experienced significant price volatility, jumping from $0.47 to $0.81 after the ruling, reaching an all-time high of $3.65 in July before stabilizing around $2.85.