The case between Ripple and the U.S. Securities and Exchange Commission (SEC) has concluded, with outcomes that have had a significant influence on the cryptocurrency market.
Ripple's Legal Battle with the SEC
In 2020, the SEC filed charges against Ripple, claiming the sale of XRP constituted the sale of unregistered securities. In July 2023, Judge Analisa Torres ruled that XRP sales on exchanges are not classified as securities, whereas certain institutional sales were determined to be securities violations.
The XRP Community's Contribution to the Case Outcome
Crypto lawyer John Deaton, who represented XRP holders, stated that thousands of investors played a vital role in shaping the outcome. He remarked, 'No credible person can argue that the XRP Army didn’t make a difference in the Ripple case.' He highlighted that over 2,000 exhibits, including affidavits from XRP holders, were submitted to the court, with Judge Torres referencing them in her ruling.
The XRP Market After the Court Ruling
The Ripple case not only altered the legal landscape but also significantly impacted the markets. Following the July 2023 ruling, XRP surged 72%, rising from $0.47 to $0.81. Before the final settlement in August 2025, the price peaked at $3.64 before cooling off. XRP currently trades around $2.85.
Ripple's legal victory over the SEC highlights the importance of community involvement in legal proceedings and the logistics of the cryptocurrency market. John Deaton concludes, 'One person can inspire many people, and together, they can make a difference.'
