- Deaton emphasizes the XRP community’s significant impact on Judge Torres’ decision in the Ripple-SEC case.
- Over 2,000 exhibits, including XRP holders’ affidavits, influenced the final ruling, acknowledging their legal relevance.
- Analysts predict XRP could rise to $12.6 following the legal clarity provided by the Ripple-SEC lawsuit’s outcome.
John Deaton, a leading attorney in favor of XRP, has acknowledged the crucial role played by the XRP community in the lengthy Ripple v. SEC case. Deaton highlighted how the collective efforts of the XRP army were instrumental in influencing the court’s final ruling. According to Deaton, skeptics who downplay the community’s involvement are overlooking its significant contribution.
In its defense in the lawsuit, Ripple had submitted more than 2,000 exhibits that consisted of affidavits provided by XRP holders to elaborate amicus briefs. According to Deaton, these materials were mentioned by Judge Analisa Torres in her decision. This is an indication that the judge has considered the voices of XRP stakeholders, which strengthened the legal case in favor of Ripple. The active role of the XRP community in the filing of such documents is regarded as a decisive element in the choice of the case.
Clarity in law is a source of expectation of a price rally.
The end of the legal dispute between Ripple and the SEC has brought much-needed regulatory clarity to XRP, which has elicited positive market responses. Analysts such as popular analyst Ali Martinez are now predicting a massive price increase of the cryptocurrency, possibly to as high as 12.6 in the long term. At the time of writing, the price of XRP is at $2.85 with a 2.58% rise over the past 24 hours despite earlier fluctuations. This recovery has also contributed to the fact that trading volume increased by 4.3% as well, meaning that investors were in high demand and had high expectations about XRP.
The Ripple-SEC case has turned into one of the milestones of U.S. crypto regulation, and the XRP community contributed to it undoubtedly. Since the case established precedent on the treatment of digital assets according to U.S. law, the engagement of the community has highlighted how collective action might influence legal litigation. It has not only impacted the legal process but also revitalized the market, and the XRP army is now hoping to see the price of the asset rise even further in the near future.
