The XRP enthusiasts are reportedly campaigning against the US SEC so the regulatory body may take back its appeal for the Ripple case. This rallying shows how the XRP community is adamant that the SEC is creating steams of confusion and volatility in the crypto market with its appeal. They claim that the appeal does not align with the SEC’s mission of fostering stability in the crypto arena and safeguarding the investors.
XRP Army’s Petition to Halt SEC Appeal in Ripple Case
The XRP Army has also started a petition on Change.org, asking the Commission to withdraw its appeal in the present Ripple case. When this article was written, the petition had gained almost 10,000 signatures already. Supporters are demanding that the SEC ends the seemingly “frivolous” appeal, which has led to confusion and uncertainty in the digital currency landscape.
The petition showcases the efforts made by the XRP community for the past four years, standing for Ripple’s legitimacy, saying that the SEC’s actions have created uncalled-for instability. According to the petition, the present legal battle has obstructed market growth and shadowed the SEC’s part in fostering fair markets. It states:
“The SEC’s frivolous appeal in the Ripple v. SEC final judgment adds an unnecessary layer of complexity and imparts an air of uncertainty within the digital currency market.”
Sources report that last week, the SEC officially put down an appeal with the U.S. Court of Appeals for the Second Circuit. This was preceded by the district court issuing a ruling in August, which, according to the SEC, has legal errors. Ripple community sees this fiasco as detrimental to Ripple and the overall crypto market. This appeal might snowball into blocking the development of decentralized finance in future along with other blockchain technologies.
The petition elaborates on the significance of halting the SEC’s appeal, saying:
“The plea here is straightforward – stop the SEC’s baseless appeal in the Ripple v. SEC final judgment. The ramifications of this case extend beyond just Ripple and its stakeholders.”
Ripple Case Brings Uncertainty for Investors
One of the major points raised by the XRP Army is the prevalent uncertainty that has followed the Ripple case. Investors of both the XRP and the overall crypto assets are confused about the impact of these legal decisions on the value of their holdings.
The XRP Army is adamant that the SEC should be favouring the crypto market by letting go of the appeal to restore stability in the industry. The petition concludes with a strong call to action for the SEC to halt its legal proceedings, saying:
“The SEC must end its baseless appeal to ensure market stability and protect the interests of both Ripple and the wider cryptocurrency sector.”
Conclusion
The XRP Army’s calling for the SEC to take back the appeal in the Ripple case has gathered massive traction with almost 10,000 supporters standing behind the cause at just an initial level. Ripple supporters allegedly state that the SEC’s ongoing pursuit of this case is not needed and is detrimental to the overall cryptocurrency market. They are of the belief that putting an end to the appeal will offer clarity and stability, for Ripple and the general digital asset market. The petition represents how frustrated the XRP community is with the SEC’s legal proceedings against Ripple.
To summarize, the XRP Army’s calls to the SEC are reflective of how much stability matters for investors in the crypto industry. They aim to have clarity and direction when it comes to the value of their held digital assets and are not inclined towards legal proceedings that may affect their holdings and market sentiment. The time will tell how things unfold for Ripple. Learn more about the SEC’s involvement in the crypto arena with TurkishNYRadio.
