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Australia surprises as third most represented nation in Ripple lawsuit

JasperArt 2023 09 11 13.28.19 upscaledJasperArt 2023 09 11 13.28.19 upscaled

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In this post:

  • John E. Deaton, representing XRP holders in the Ripple vs. SEC lawsuit, reveals that the U.S. accounts for 53% of the 75,000 XRP holders involved.
  • Australia has unexpectedly risen to the third spot, narrowly beating Canada.
  • XRP’s current market performance is bearish, with a 4.72% price decrease, trading at $0.4769.

 

In a recent revelation, John E. Deaton, the legal spearhead for XRP holders in the Ripple vs. SEC case, has unveiled compelling data. This data spotlights the global diversity of XRP holders involved in the lawsuit.

The United States leads the pack, accounting for 53% of the 75,000 XRP holders in the case. Given that the lawsuit centers on Ripple Labs’ U.S. activities, this majority is no surprise. Yet, the story doesn’t end there.

The United Kingdom follows closely, marking a significant presence of XRP holders from across the Atlantic. This indicates the lawsuit’s outcome could ripple through the UK’s regulatory and investment landscape.

But what’s turning heads is Australia’s ascent to the third position. Deaton notes that Australia has edged out Canada, becoming the third most represented nation in the lawsuit. This leap underscores the borderless appeal of cryptocurrencies like XRP.

Deaton’s enthusiasm to meet many of these global XRP holders is palpable. His active social media engagement reflects his commitment to his clients and the broader XRP community.

This global participation in the lawsuit highlights the interconnected nature of the crypto space. Cryptocurrencies, led by pioneers like XRP, have shattered geographical barriers. They’ve amassed a diverse user and investor base that transcends national boundaries.

The lawsuit serves as a critical juncture for the crypto industry at large. It’s not just about XRP; it’s about setting a precedent. The verdict could influence the legal treatment of other digital assets, emphasizing the need for clear, consistent regulations that recognize the global scope of these assets.

Currently, XRP is trading in a bearish mood, where the price has decreased by 4.72% and is exchanging hands at $0.4769. Bears have established a support level of $0.4798 and a resistance level of $0.5007. The trading volume of XRP has increased by 118.31% in the last 24 hours.

The Ripple-SEC lawsuit is more than a legal skirmish between a company and a regulatory body. It’s a litmus test involving a global community of stakeholders in the crypto world. The case underscores the urgent need for regulatory frameworks that can adapt to the borderless nature of digital assets.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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