The SEC vs Ripple case has become a significant event in the cryptocurrency industry, where the involvement of the XRP community notably influenced the legal proceedings.
Role of XRP Holders in the Legal Proceedings
Attorney John E. Deaton pointed out the direct involvement of XRP holders as a crucial factor in the SEC vs Ripple case. In a recent post, he stated:
> "No credible person can argue that the XRP Army didn’t make a difference in the Ripple case."
He referred to Judge Analisa Torres’s decision, which cited his amicus brief, XRP holder affidavits, and a prior oral argument in the LBRY case.
Acknowledgment of Ripple Community Efforts
Ripple’s Deputy General Counsel, Deborah McCrimmon, acknowledged that the case was influenced by a broad effort, including the XRP community's participation. Deaton had mobilized over 75,000 XRP holders to submit statements and affidavits in support of Ripple’s legal position. The community maintained public focus on the case, organizing campaigns and petitions aimed at regulators.
Shifting Towards XRP's Future
Meanwhile, XRP's price is trading at $2.85, showing a 3% gain in the last 24 hours and a 5% drop over the past week. Some in the community have raised concerns about slow growth in on-chain activity and total value locked. One user commented:
> "OK but now we need the big guns to lift the price up apparently."
Projects like Doppler and Flare aim to increase XRP’s real-world use, with a focus on whether utility follows legal clarity.
The SEC vs Ripple case highlights the importance of community involvement in legal processes. Ripple's success may lead to regulatory changes in the cryptocurrency landscape and affect XRP's future.
