Ripple Lawsuit: Gasparino’s Take Divides Crypto Community

• FOX journalist Charles Gasparino said that the XRP Army does not exist. 
• The journalist also believes that the SEC could pursue an overturn of Judge Torres’ decision in the XRP case.
• XRP has crashed by a massive 6% in the past 24 hours and trades at $2.

Fox Business journalist Charles Gasparino has once again sparked controversy within the XRP community. His recent comments on the XRP “army” have angered investors and led to a drop in the cryptocurrency’s price.

On Sunday, Gasparino took to X (formerly Twitter) to dismiss the idea of an XRP army . He argued that it is simply early investors and insiders who want to see the altcoin’s price rise. XRP holders quickly fired back, accusing the journalist of bias and misrepresenting their community.

Gasparino Defends His Reporting

In response to the backlash, Gasparino defended his reporting on XRP. He pointed out that his past interviews have actually benefited the XRP community. For instance, during an interview with Gasparino, former CFTC Chair Chris Giancarlo predicted that the SEC would drop its lawsuit against Ripple once President-elect Trump took office. Gasparino has also been critical of the SEC’s overreach in the crypto space.

However, Gasparino insists that he will not be a cheerleader for XRP. 

“I will never change my mind that Judge Torres’s ruling that allows for lower disclosure standards for retail is something that markets should embrace.”

Read also: XRP and Dogecoin: Insights into Market Behavior

XRP Price Crashes Following Gasparino’s Comments

Following Gasparino’s latest statements, the price of XRP fell by 6%, and the digital asset is now in danger of losing the $2 price level. This comes as a disappointment to investors who were hoping for a rally as the new year approaches.

Bill Morgan Weighs In

XRP advocate Bill Morgan responded to Gasparino’s claims, arguing that Judge Torres’s ruling does not actually allow for lower disclosure standards for retail investors. He explained that if Ripple wins its appeal, no securities disclosure will be required for any XRP sales , as they will not be considered securities.

Ripple wins its appeal, your concerns about different disclosure standards disappear. No securities disclosure will be required for any Ripple XRP sales in that event because no sales will be securities.

Morgan attributed the SEC’s loss in the lawsuit to “poor lawyering” and “crap evidence.” He cited John Deaton’s presentation of significant evidence supporting Ripple’s claims, which ultimately undermined the SEC’s argument that Ripple sought profit from programmatic sales.