- XRP price surged 13% to $3.35 after Ripple’s lawsuit victory settled the security classification debate.
- Pro-XRP lawyer Bill Morgan defended the community against Bitcoin maximalists and criticized Strategy’s Michael Saylor.
- Trading volume jumped 168% to over $11 billion as investors showed strong interest in the regulatory clarity.
Ripple’s legal victory against the Securities and Exchange Commission has triggered a significant market response, with XRP price jumping 13% to $3.33 following the latest developments in the prolonged lawsuit.
Pro-XRP attorney Bill Morgan has publicly defended the cryptocurrency community against ongoing criticism from Bitcoin maximalists, particularly targeting Strategy Chairman Michael Saylor’s previous statements labeling all altcoins as securities.
Morgan Declares XRP Security Status Settled
The legal expert emphasized that Ripple’s conclusion of the SEC lawsuit definitively resolves questions surrounding XRP’s regulatory classification. Morgan stated that all past programmatic sales of XRP, including institutional distributions, have been legally settled between Ripple and federal regulators.
“XRP itself was, is, and forever will be, not a security,” Morgan wrote in his statement addressing the cryptocurrency community.
The attorney praised Ripple supporters for maintaining their position throughout the SEC’s extended legal campaign, describing the regulatory action as a “collateral attack against XRP.” Morgan highlighted that these sales and distributions were conducted lawfully throughout the process.
Bitcoin Maximalist Criticism Intensifies Market Tensions
In recent weeks, tensions have escalated between Bitcoin maximalists and XRP supporters, with community members facing derogatory language in online discussions. Morgan specifically called out Bitcoin advocate Adam Livingston, who suggested that Ripple executives plan to liquidate XRP holdings through banking partnerships at retail investors’ expense.
Livingston characterized XRP investors as victims suffering from “Stockholm Syndrome” while contrasting Bitcoin’s anti-central bank mission with what he termed Ripple’s exit strategy.
Morgan countered these claims by pointing to XRP’s performance metrics since launch, noting the cryptocurrency has gained over 50,000% since inception. The legal practitioner, specializing in consumer fraud and misleading conduct cases, described Bitcoin maximalists as “amongst the most dishonest people” he has encountered professionally.
The positive legal developments drove significant trading activity across cryptocurrency exchanges. XRP’s daily trading volume surged 168% to exceed $11 billion, demonstrating heightened investor interest following the lawsuit resolution.
Market analysts suggest the regulatory clarity could pave the way for institutional products, with some experts predicting potential BlackRock XRP exchange-traded fund filings soon.
Morgan also addressed patterns of derogatory behavior within the Bitcoin community, noting the frequent use of offensive terminology when their “Bitcoin only” ideology faces challenges from alternative cryptocurrency supporters.
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