XRP lawsuit made Ripple (XRP) popular, says crypto legal expert
John Deaton noted that Ripple grabbed huge popularity in the world because of the Ripple vs SEC conflict.
Ripple is a US (San Francisco) headquartered blockchain & fintech company. The main service of this firm is to provide global payment services with the help of XRP coin, which runs on Proof-of-stake (PoS) XRP Ledger. In Dec 2020, the United States Securities Exchange Commission (SEC) sued Ripple executives over the sale of $1.3 billion worth of unregistered XRP coins publicly.
On 24 June 2023, US crypto attorney John Deaton responded to a Tweet & said that XRP holders came to know about Ripple firm & Ripple CEO Brad Garlinghouse first time when the SEC agency sued Ripple.
Furthermore, the Pro-XRP attorney said that there are still huge numbers of XRP holders & are unaware of Ripple & Garlinghouse.
Deaton shared his past discussion on Ripple vs SEC case with another legal expert and pointed out that the XRP holders in Japan & Australia like countries are not paying any attention to the XRP lawsuit case.
In this way, Deaton noted that the majority of the XRP coin holders came to know Ripple & its executives for the first time after the lawsuit. In short, because of the lawsuit, Ripple & execs became popular in the world.
SEC vs Ripple
Through the lawsuit action, the SEC agency alleged that Ripple is in an indirect contract with the XRP holders & also its action manipulates the price of XRP coin.Â
Now such latest outcomes will surely help Ripple’s attorneys to defend Ripple in court against the SEC’s allegations.
XRP coin price action
The current trade price of XRP coin is $0.487 & this trade price is 1.08% high over the last 7 days of trade price.
Read also: Bitcoin cash surges 100% within 7 daysÂ
