SEC Chair Paul Atkins recently said that only a “very small number” of tokens should count as securities, and that it depends on how they are sold and promoted. His comments stirred debate in the XRP community, since the issue is at the heart of the long-running Ripple vs. SEC case.
XRP Army Demands ETF Approval
Atkins’ stance that most tokens aren’t securities unless their sales and marketing make them one closely mirrors the Ripple case. In that lawsuit, the judge ruled XRP was not a security when traded on the secondary market, but certain institutional sales could qualify. This shift in the SEC’s tone has energized XRP supporters, many of whom are now pushing for an XRP ETF approval.
One of the supporters wrote in a post, “Words are just words. Action is required. Your organization sued Ripple for no just cause. Tied them up for 4 years in legal battles. This action also impacts XRP retail, so explain why the SEC does not make amends by at least fast-tracking the Spot XRP ETF.”
The post said that Ethereum is far ahead of XRP and is already gaining from its spot ETF. It called on the SEC to approve an XRP ETF soon, saying the Ripple lawsuit had hurt regular investors. The message also claimed the SEC Chair was likely seeing these comments and asked him to take the request seriously.
XRP Army Condemns SEC
The new regulatory framework for classifying “securities” will surely reduce uncertainty and has been positively received within the crypto market. However, it unsettled some XRP users as they firmly believe that the agency appealed against Ripple for no logical reason. The community says it was deeply affected by the SEC’s previously aggressive stance under former Chair Gary Gensler, which treated XRP as an unregistered security.
Former SEC Lawyer Marc Fagel also shared his view. He said on X, “No just cause” aside from Ripple–as found by the court–illegally raising hundreds of millions of dollars from unregistered securities sales. So maybe direct this at Ripple, the one that broke the law.”
What Are The Odds of XRP ETF Approval?
In the past few months, the XRP ETF approval has seen significant fluctuations in odds. After the lawsuit between Ripple and the SEC calmly ended, the probabilities of ETF approval immediately surged. Currently, the odds are around 78% and the expected deadline from the SEC for XRP ETF approval is between October 18 to 25, 2025.
