As XRP (CRYPTO: XRP) is battling to stay above $1, pro-crypto attorney John Deaton said XRP holders played a meaningful role in Ripple’s landmark legal victory against the SEC.
‘Happy XRP is not a security day’
In an X post on July 14, Deaton said the court cited his amicus brief, nearly 4,000 affidavits submitted by XRP holders, and an oral argument he made in the LBRY case regarding secondary-market sales of digital assets.
He also noted that his brief argued that the token is merely digital code regardless of how it may have been marketed.
Judge Torres ultimately ruled that XRP itself is not a security, a conclusion Deaton said aligned with that argument.
