XRP Army "historic victory" after nearly 5 years fighting the SEC
After nearly 5 years of litigation, the U.S. Securities and Exchange Commission (SEC) has officially closed the case #RippleLabs – an event that the XRP Army community sees as proof they are on the "right side of history".
The case began in December 2020, when the SEC accused Ripple and two executives of selling $XRP worth 1.3 billion USD as unregistered securities. Ripple denied the allegations, asserting that XRP is not a security. At that time, the price of XRP plummeted 62% from 0.56 USD to 0.21 USD.
This shock turned #XRPArmy – previously just a mocking nickname – into a united force. Members rallied hundreds of testimonials, receiving legal support from attorney John Deaton representing 75,000 XRP holders. Although the price was suppressed, the community saw this as an opportunity to accumulate more tokens.
The statement by CEO Brad Garlinghouse in 2020 – "We are on the right side of the law and will be on the right side of history" – became the Army's slogan. Now, as the lawsuit concludes, they believe that has been proven.
According to the XRP Army, this victory not only "liberates" XRP but also paves the way for the entire crypto industry in the U.S., becoming a significant milestone in the history of digital finance.