Ripple Community Awaits Key SEC Meeting Today
The legal battle between Ripple and the SEC has seen numerous developments recently. The trial phase began in April 2024, more than three years after the process started, with both parties presenting necessary information and documents while adhering to court rules.
Despite being in its final stage, a resolution has yet to be reached. Ripple’s CEO recently indicated that an agreement might be reached “very soon,” while other experts have provided more specific predictions. American attorney Fred Rispoli suggested the case could be officially closed by July 31, whereas Jeremy Hogan believes this could happen before the end of summer.
There have been some speculations going around X about an agreement that might be announced as early as this week, based on the SEC’s closed meeting scheduled today. The agency is expected to discuss several topics, including the “Institution and settlement of administrative proceedings” and the “Resolution of litigation claims.” The meeting was initially set for July 18 but was later rescheduled for today.
On the other hand, some industry experts pointed out that the Commission frequently holds similar meetings, and so far, they have not addressed the Ripple case.
At press time, XRP is trading at $0.6036 and has gained 0.54% in the past 24 hours despite a volatile trading environment. Several significant factors are influencing XRP’s price trajectory, suggesting a potential surge.
Analyst Zach Rector points to the impending resolution of Ripple’s long-standing legal battle with the SEC as a major catalyst for XRP’s anticipated surge. This three-and-a-half-year lawsuit has been a cloud over Ripple and its cryptocurrency. A favorable resolution could trigger a price surge similar to last year’s opening new growth opportunities for XRP.
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