XRP Army Celebrates Being on 'Right Side of History’ as SEC’s Ripple Lawsuit Ends
The U.S. Securities and Exchange Commission (SEC) has closed its legal dispute against Ripple Labs Inc., leading the XRP community, known as the XRP Army, to feel validated in their belief of being on the "right side of history." The SEC had accused Ripple of conducting a $1.3 billion unregistered securities offering through XRP sales, which Ripple denied, asserting that XRP is not a security. Following the lawsuit announcement in December 2020, XRP's value dropped from $0.56 to $0.21. The legal battle galvanized the XRP Army, with members mobilizing support and submitting affidavits in court. The lawsuit inadvertently allowed the community to accumulate more XRP due to suppressed prices. Members believe the case's resolution not only benefits XRP but also sets a precedent for the broader cryptocurrency industry, marking it as a significant event in American financial history. The XRP Army plans to regroup and continue promoting XRP's growth after nearly five years of legal efforts.
