The Ripple vs. SEC lawsuit is about to reach a critical turning point. In the latest move, the SEC has shifted its closed-door meeting to July 25. With this slight change, XRP prices jumped in anticipation of a possible end to the Ripple vs SEC case. Many experts assume that there will be a possible settlement. In the meanwhile, the news has already had a positive impact, with XRP’s price increasing by 3% following the announcement.
XRP opens with Euphoric Market Reactions
In recent months, XRP has seen a significant rally, surging over 50% and reaching its highest since early April. This rally was partly driven by optimism surrounding regulatory clarity after a court ruling last July suggested that XRP might not be classified as a security. The SEC’s scheduling of the closed meeting further spurred renewed interest and price increases.
Settlement On Cards?
The SEC’s rescheduling of the meeting has reignited hopes for a resolution. Previously, the SEC had been seeking a hefty $2 billion fine from Ripple for alleged unregistered sales to institutions, while Ripple had proposed a much smaller settlement of $10 million. When an earlier scheduled meeting was unexpectedly canceled, XRP’s price dropped nearly 10%, highlighting the market’s sensitivity to news related to the case.
July 25 SEC Meeting: What’s at Stake?
The SEC’s closed meeting rescheduled for July 25 has fueled speculation within the crypto community. However, Marc Fagel has already clarified that such closed-door meetings are routine and not necessarily indicative of settlement discussions. The market is betting high on settlement chances, but Ripple and Bill Morgan have hinted at a possible outcome rather than fixing terms with the SEC.
However, the specifics of the meeting are not clear. Still, including settlement on the agenda fueled rumors that the SEC might agree to a deal with Ripple, sparking widespread speculation among XRP enthusiasts.
XRP Current Snapshot
At present, XRP is the sixth-largest cryptocurrency, worth $34 billion. Notably, in the last two weeks, XRP has seen a significant rebound, jumping 56.8% from $0.382 to $0.60. During this period, its market cap also surged to $33.6 billion, reflecting strong recovery and growth amid a broader market rally. Investors are eagerly waiting to see if this meeting will bring any definitive news about XRP’s regulatory status.
All eyes are peeled on July 25th, will XRP investor’s woes come to an end or more misery awaits? Stay tuned with us to know it first.
Read More About This: Ripple vs. SEC Settlement Rumors Spark 40% XRP Price Rally: What’s Next?
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