Ripple (XRP) Community Awaits Important SEC Meeting Today
Here’s why July 25 could be significant for the Ripple vs. SEC lawsuit.
TL;DR
– The legal conflict between Ripple and the SEC continues, with some experts forecasting a resolution by summer’s end. Today’s SEC meeting has raised expectations of a potential settlement.
– Ripple’s XRP has been rising and could experience considerable volatility depending on the lawsuit’s outcome. A favorable decision might initiate a bull run, while an adverse ruling could impede its progress.
Could Today Be the Decisive Day?
The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has seen many developments recently. The trial phase began in April 2024, over three years after the case started, with both parties presenting evidence and following court protocols.
Despite being in the final phase, a resolution has not yet been reached. Ripple’s CEO hinted at a possible settlement “very soon,” while other experts provided more specific timelines. Attorney Fred Rispoli suggested the case could conclude by July 31, while Jeremy Hogan anticipated it might end by summer’s close.
Some social media users speculated that an agreement could be announced this week, spurred by the SEC’s closed meeting scheduled for today (July 25). The meeting agenda includes topics such as the “Institution and settlement of administrative proceedings” and the “Resolution of litigation claims.” Initially set for July 18, the meeting was rescheduled for today.
However, others in the industry noted that the SEC often holds such meetings and, up to now, has not specifically addressed the Ripple case.
The Potential Impact on XRP
Ripple’s native token, XRP, has been trending upward, briefly reaching $0.63 last week and currently around $0.61. It is one of the few altcoins that have resisted the recent market-wide downturn. For instance, Bitcoin (BTC) is down 2.5% in the past 24 hours, while Ethereum (ETH) has dropped nearly 10% over the same period.
A potential resolution of the Ripple vs. SEC lawsuit could lead to increased volatility for XRP. The asset could replicate its surge from last year if the outcome is favorable for Ripple or decline if the decision is unfavorable.
Many believe Ripple has the advantage, having achieved three significant (though partial) court victories in 2023. XRP’s price jumped by over 70% just hours after the first victory in July last year, when Judge Torres ruled that Ripple’s programmatic sales to secondary trading platforms did not constitute offers of investment contracts.
