John Deaton Highlights XRP Army’s Key Role in Ripple’s SEC Win

• XRP Army’s influence crucial in Ripple’s victory over the SEC.
• Deaton credits XRP community for shaping Ripple’s legal triumph.
• Ripple secures victory, marking the end of a four-year battle.

John Deaton, a prominent advocate for XRP holders, has highlighted the crucial influence of the XRP community in Ripple Labs’ victory against the U.S. Securities and Exchange Commission (SEC). The legal battle, which began in 2020, centered on the SEC’s claim that Ripple sold XRP tokens as unregistered securities.

After years of litigation, Ripple and the SEC agreed to dismiss their respective appeals, officially closing the case last month.

Also Read: Ethereum Bulls Await Breakout as 60,000 ETH Staked

Ripple Secures Final Judgment

Ripple’s legal victory was solidified when the United States Court of Appeals for the Second Circuit accepted the stipulation to dismiss the appeals. This marks the conclusion of over four years of litigation. Judge Analisa Torres’s original ruling to separate institutional XRP sales from a secondary market sale stands. This decision was an essential part of Ripple’s defense, as it made it clear that the sale of XRP on the open markets was not a security.

The case settlement also coincided with former SEC Chair Gary Gensler’s departure, which left a compromise possible. The SEC minimized the financial fines against Ripple and abandoned its effort to place a permanent injunction on the sale of XRP. This settlement provides Ripple with much-needed regulatory clarity, eliminating a major obstacle that had affected both the company and XRP’s market outlook.

XRP Community’s Influence on the Outcome

Deaton stressed that the XRP Army played a significant role in this legal win. Despite the submission of over 2,000 exhibits, the court focused on a handful of key materials, including the XRP Holder Affidavits and Deaton’s own amicus brief. These two contributions, which had been motivated mostly by the activism of the XRP community, played a central role in solidifying Ripple’s defense against the SEC.

Deaton noted that the XRP Army’s activity took into account the retail investors’ voices in the case. Unless they had continued to champion the case, Ripple would have been in a far weaker legal position. The court’s recognition of such contributions reflects the strength of grassroots participation in influencing the legal outcomes.

The success of Ripple has already been reflected in the market, and the price of XRP has increased dramatically after the rejection of appeals. The token rose to $3.35 and settled at about $2.85. This surge reflects growing confidence in Ripple’s future and the legal clarity surrounding XRP’s status.

With the legal battle behind it, Ripple is now focused on advancing its mission to drive global payments through the XRP Ledger, further solidifying its position in the digital finance landscape.

Also Read: Lagarde Calls for Stricter Stablecoin Regulations for Non-EU Issuers to Avoid Potential Risks

The post John Deaton Highlights XRP Army’s Key Role in Ripple’s SEC Win appeared first on 36Crypto.