Ripple’s years-long legal fight with the U.S. Securities and Exchange Commission (SEC) has finally come to an end — and crypto lawyer John Deaton says the XRP community deserves credit for helping tip the scales.
The SEC first sued Ripple in 2020, alleging it sold XRP as an unregistered security. In July 2023, Judge Analisa Torres ruled that XRP sales on exchanges were not securities, though certain institutional sales were. After years of appeals, both sides dropped their challenges in August 2025, officially closing the case.
Deaton, who represented XRP tokenholders, praised thousands of investors for providing affidavits and research that influenced the outcome. “No credible person can argue that the XRP Army didn’t make a difference in the Ripple case,” he wrote on X, noting that over 2,000 exhibits from XRP holders were cited in court.
Its executives echoed this praise. Deputy General Counsel Deborah McCrimmon highlighted the community’s work, saying it saved “thousands of dollars” in legal research. Their efforts strengthened its fair notice defense, which argued that the SEC failed to provide clear regulatory guidance for crypto.
Following the July 2023 ruling, XRP surged 72% from $0.47 to $0.81, and ahead of the August 2025 settlement, it rallied to a record $3.64 before stabilizing around $2.85.
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