The XRP community, also known as the XRP Army, is celebrating a major victory as the U.S. Securities and Exchange Commission (SEC) officially closed its legal dispute against Ripple Labs Inc. This decision has only reinforced the belief among XRP supporters that they are on the “right side of history”—a sentiment that has been echoed within the community since 2020.
The legal battle between Ripple and the SEC began in December 2020 when the SEC alleged that Ripple had conducted a $1.3 billion unregistered securities offering through the sale of XRP. Ripple denied the accusations, arguing that XRP is not a security. Following the news of the lawsuit, XRP’s value plummeted from $0.56 to $0.21, causing concern among the community.
However, the SEC’s lawsuit acted as a catalyst for the XRP Army to unite and defend their favorite token. Influential figures within the community, such as John Deaton, rallied support and provided legal assistance to 75,000 XRP holders involved in the lawsuit. The community banded together, submitting affidavits to the court and ultimately emerging victorious.
The legal battle provided the XRP Army with an opportunity to accumulate more XRP tokens, as the lawsuit suppressed the token’s price. Despite the challenges faced, the community grew stronger and more resilient throughout the ordeal.
Now that the legal dispute has been resolved in Ripple’s favor, the XRP Army is confident in their position on the right side of history. Ripple’s fight against the SEC not only paves the way for XRP’s future but also sets a precedent for the entire cryptocurrency industry.
The XRP Army believes that the legal battle was a pivotal moment in the crypto industry, with far-reaching implications for cryptocurrency regulation in the U.S. and globally. After nearly five years of supporting Ripple’s legal battle, the XRP Army is looking forward to a well-deserved break. However, they are already planning their next move to propel XRP to new heights.
In conclusion, the XRP Army’s unwavering commitment and dedication have been instrumental in securing this victory for Ripple and the broader cryptocurrency community. As they look towards the future, the XRP Army remains steadfast in their belief that they are indeed on the right side of history.