(Date: Friday 13 July 2024, 11:145 AM GMT):
In the cryptocurrency market today, $XRP , the native coin of Ripple, has seen a notable surge. Over the past 24 hours, XRP jumped by 9.18%, crossing the $0.50 mark. This sudden price hike is linked to speculation about a secret meeting, as reported by CoinEdition. The U.S. Securities and Exchange Commission (SEC) has scheduled a closed-door meeting for next Thursday, July 18, sparking rumors that the regulatory agency may be nearing a resolution in its long-standing legal battle with Ripple Labs.
Although the official agenda for the meeting remains undisclosed, sources suggest it could address the Ripple lawsuit and possible settlement options. An internal circular, which has been making rounds on Crypto Twitter, indicates that attendees will include SEC commissioners, their counsel, the secretary to the commission, and recording secretaries. Select staff members interested in the topics on the agenda are also invited.
The circular outlines the meeting’s agenda, which includes discussions on the institution and settlement of injunctive actions, administrative proceedings, litigation claims, and other matters related to examinations and enforcement proceedings. While the notification does not explicitly mention Ripple’s case, many in the crypto community speculate it will be a focal point due to its prominence and the SEC’s involvement in multiple legal actions.
The Ripple vs. SEC legal battle has been ongoing for several years, impacting XRP's development. Many in the crypto community believe that resolving this case could lead to a significant recovery for XRP, which has faced downward pressure for years. The anticipation surrounding this possible resolution has contributed to the recent surge in XRP's price, reflecting the community's optimism.
As the meeting date approaches, all eyes will be on the SEC and Ripple, hoping for a conclusion that could potentially reshape the future of XRP and the broader cryptocurrency market.
