The XRP Army played a decisive Vai in the SEC vs Ripple case, as thousands of sworn statements and supporting amicus briefs helped clarify how XRP is used in practice, contributing to the judge’s ruling that XRP is not a security.
Judge Analisa Torres’s ruling (July 2023) and the community’s efforts have shifted the focus to the future of XRP, including ETF prospects and institutional Capital flows, while Ripple continues to pursue its mission of building the “internet of value.”
- XRP Army and personal affidavits are key evidence in the lawsuit.
- Judge Torres' July 2023 ruling is a legal milestone for the cryptocurrency industry.
- The possibility of an XRP ETF (September 20) could attract institutional Capital and drive long-term adoption.
The Role of the Community (XRP Army) in the Legal Victory
The XRP community contributed thousands of affidavits and supporting documents, helping the court understand how XRP is used in real life and strengthening Ripple's defense.
Of the roughly 2,000 exhibits filed with the court, several key documents—including affidavits from retail holder and influential amicus briefs—helped the judge assess the use and income expectations associated with XRP.
“It is often said that one person cannot make a difference. But one person can inspire many, and together, they can change the outcome.”
John Deaton, Attorney, X, 2023
Judge Analisa Torres's ruling (July 2023)
Judge Torres concluded that XRP itself is not a security, setting an important precedent for the legal approach to some Cryptoasset.
This ruling distinguishes between investment transactions and Token use in an application environment, making real-world evidence from users and the market more important in adjudication.
Ripple's Mission Goes Beyond Lawsuits
Ripple insists it has not lost sight of its mission: building the “internet of value” for fast, low-cost, and seamless cross-border payments.
The leadership, including Deputy General Counsel, reiterated the company’s continued development of its products and network, and thanked the community for its efforts in unearthing internal records, statements, and memos that support Ripple’s defense strategy.
Outlook: XRP ETF and September 20
After overcoming a major legal challenge, the market is turning its attention to the possibility of an XRP ETF approval, with September 20 XEM as a key date if XRP has traded for six months on a designated contract market (DCM).
If approved, an ETF could open the door to institutional Capital , increase liquidation , and boost investor confidence, becoming a driver for broader adoption of XRP in the future.
Legal: What does this ruling mean for the industry?
The ruling helps distinguish between the investment and practical use elements of Token, paving the way for similar legal arguments and reducing risks for some cryptocurrency projects.
How important is the role of user affidavits?
Affidavit provides real-world evidence of how users use XRP, helping the court visualize the application beyond theory and bolstering the argument that XRP is not a security.
Could XRP ETF Get Approved as Soon as September 20?
The September 20 deadline is only a condition for trading time on DCM; the approval decision also depends on the management agency's assessment of regulatory compliance and submitted documents.
