XRP army has actively joined the legal battle between Ripple and the United States Securities and Exchange Commission (SEC), showing support for the crypto payment company with a new complaint. A petition highlighting the SEC’s dangerous enforcement actions as well new appeal it has already received thousands of signatures from different members of the community.
XRP Army Submits Petition Against SEC
The XRP army, which includes millions of Ripple supporters, XRP Investors and mainstream activists, are rallying to push back against the SEC’s recent legal assault on Ripple. On October 2, the administrator file a complaint directing the decision of Judge Analisa Torres in 2023 which decided The security situation of XRP.
In an effort to challenge this complaint, XRP officially forces presented petition on October 3 to express their frustration with the SEC’s enforcement actions against Ripple and probably four years legal dispute. The XRP team revealed that the purpose of the petition, which was launched on the Change.org website, was to completely stop the SEC complaint and the ongoing case against Ripple.
In the petition, XRP described their past negative experiences due to the SEC case against Ripple in 2020. They revealed that they have been in an unrelenting battle with the regulator for nearly four years, during which time it has been characterized by a concerted effort by the community to publicly and vocally defend the legitimacy of Ripple.
Despite their efforts to dismiss SEC legal restrictions on Ripplethe administrator is still persistent in his pursuit classify XRP as collateral. The petition criticized the agency’s latest attempt to challenge the court’s decision, calling its latest appeal “frivolous” while saying it introduces unnecessary complexity and fuels uncertainty in the broader digital currency industry.
Currently, the XRP army petition is nearing its goal, with 9,935 signatures out of a target of 10,000. As of writing, 1,452 new followers have signed up, and more are expected to join before the end of the day.
SEC Files Complaint to Have Broader Effects on Crypto Space
In a newly filed petition, the XRP force criticized the SEC not fulfilling its core function of protecting investorsmaintaining reasonable growth and supporting capital growth in the country. They argue that the regulator has long replaced the legal action against Ripple, which ultimately causes XRP is hurting XRP investors and the broader crypto sector.
The XRP army noted that the new SEC complaint is baseless and targeted they threaten the future of XRP and the crypto space as a whole. They emphasized that the consequences of the regulator’s case against Ripple go beyond the crypto payments company, with major implications for the entire digital goods industry.
Because of this, the XRP army has called on the entire community to support the petition created to protect the interest of all digital asset enthusiasts around the world who are inspired by the future of the Decentralized Finance (DeFi) ecosystem.
The featured image was created with Dall.E, a chart from Tradingview.com
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