The legal battle between Ripple and the SEC garnered significant attention due to the active participation of the XRP community, which played a crucial role in this process.
Impact of the XRP Army on Ripple's Legal Defense
Attorney John Deaton, a supporter of XRP, noted that the influence of the XRP community, referred to as the XRP army, was significant in the case's outcome. He pointed out that the efforts of this group swayed Judge Analisa Torres. According to him, Ripple submitted over 2,000 exhibits, including an amicus brief, affidavits from XRP stakeholders, and oral arguments. Deaton emphasized that the judge referenced some of these exhibits in her ruling, which supports their relevance.
XRP Price Outlook Post-Victory
With the conclusion of the legal battle, analysts are projecting that the legal clarity obtained could positively impact the price of the XRP token. Notable analyst Ali Martinez stated that XRP could reach $12.6 in the long term. As of the time of writing, XRP was trading at $2.85, with a 2.58% increase in the last 24 hours.
Conclusion on the Importance of the XRP Community
Deaton highlights how collective power can shape landmark legal outcomes. The Ripple v. SEC case now serves as a legal precedent for crypto asset regulation in the U.S. The active participation of the community also contributes to increased trading volumes of XRP, confirming the XRP army's anticipation of price recovery.
The influence of the XRP community on the Ripple vs. SEC lawsuit underscores the importance of public support in legal matters and opens new prospects for the XRP token.
