XRP Army Celebrates Being on 'Right Side of History’ as SEC’s Ripple Lawsuit Ends
Main Idea
The SEC officially closed its legal dispute against Ripple Labs Inc., marking a significant victory for Ripple and the XRP community, which had rallied behind the company during the lawsuit.
Key Points
1. The SEC alleged Ripple conducted a $1.3 billion unregistered securities offering via XRP sales, leading to a lawsuit in December 2020, which Ripple denied, claiming XRP is not a security.
2. The XRP Army, a community of supporters, grew significantly during the lawsuit, mobilizing through social media and legal initiatives to defend Ripple and XRP.
3. XRP's price dropped 62% to $0.21 following the SEC lawsuit announcement but the community saw the legal battle as a rallying point for broader crypto industry implications.
4. Ripple's CEO Brad Garlinghouse's 2020 blog post became a mantra for the XRP Army, symbolizing their belief in being on the 'right side of history' in the fight against regulatory overreach.
5. The resolution of the lawsuit is viewed as a landmark event for cryptocurrency regulation in the U.S., with potential global implications for the crypto industry.
Description
The SEC suing Ripple in 2020 prompted the XRP Army to mobilize, and now it's stronger than ever and celebrating its victory.
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