Ripple Labs achieved a significant legal victory over the U.S. Securities and Exchange Commission (SEC) following a lengthy battle that began in 2020. This decision reflects the substantial influence of the XRP community.
Practical Outcomes of Ripple's Victory
Ripple's legal victory was confirmed when the U.S. Court of Appeals agreed to dismiss the relevant appeals. This signifies the conclusion of more than four years of litigation. Judge Analisa Torres's original ruling to separate institutional XRP sales from secondary market sales was critical to Ripple's defense, clarifying that XRP sales on the open market are not considered securities.
Influence of the XRP Community on the Case Outcome
Advocate John Deaton emphasized that the XRP community played a significant role in this legal win. The court focused on a few key materials, including the XRP Holder Affidavits and Deaton's amicus brief. These contributions were primarily driven by the activism of the XRP community, which strengthened Ripple's case against the SEC.
Market and Future of Ripple Post-Litigation
Ripple's victory has already been reflected in the market, with the price of XRP rising to $3.35 and settling around $2.85. This surge indicates growing confidence in Ripple’s future and the legal clarity regarding XRP’s status. With the legal battle resolved, Ripple is now focused on advancing its mission to facilitate global payments through the XRP Ledger.
Ripple's victory over the SEC illustrates how grassroots involvement can impact significant legal outcomes. This success may also have long-term implications for the entire digital asset sector.
