The Ripple vs. SEC Lawsuit is About to Reach a Critical Turning Point

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.

The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) is nearing a critical juncture, with the latest development being the SEC shifting its closed-door meeting to July 25. This minor change has sparked a 3% price increase in XRP, as anticipation builds for a possible end to the saga.

XRP Opens with Euphoric Market Reactions

XRP has seen a remarkable rally over the last few months, surging over 50% to reach its highest level since early April. This rally was partly driven by optimism regarding regulatory clarity after a court ruling last July suggested that XRP may 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 settlement. 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.

Nevertheless, the specifics of the meeting are not clear. Still, the inclusion of settlement on the agenda has 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, valued at $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.

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