We’ve finally reached July 25th, with the scheduled SEC meeting set to take place in approximately 10 hours, at 2pm Washington time.
As our team reported a few days ago, the agenda for this meeting includes several key points. The Securities and Exchange Commission plans to discuss the institution and settlement of administrative proceedings. They will also address the resolution of litigation claims.
Additionally, the agenda mentions other matters relating to examinations and enforcement proceedings.
Based on this , there’s speculation that the meeting could potentially involve a settlement with Ripple, which would be big news for the entire crypto community.
Although the agenda doesn’t explicitly mention Ripple, the community is almost certain it pertains to this long-standing case.
It’s widely known that any positive news for Ripple from this meeting could drive the XRP price upward.
Read also: Top Analyst Lists 6 Reasons Why Ripple XRP Price ‘Will Pump’
Analyst’s XRP Price Prediction
Currently, the XRP price hovers around $0.6. Despite today’s overall market downturn, XRP is actually up 1%. This suggests that XRP holders are not selling in the face of current market conditions, instead choosing to wait and see what will unfold in today’s SEC meeting.
An analyst known as “Mikybull” predicted an explosive move for the XRP price yesterday. He stated that XRP is “on a Bollinger band long squeeze”.
$XRP on a Bollinger band long squeezeExplosive move looming folks!In my trading journey, it's hard to ignore this. https://t.co/lHNaWgjyzH pic.twitter.com/OXkzOdFzuX
— Mikybull Crypto (@MikybullCrypto) July 24, 2024
A Bollinger Band squeeze occurs when the upper and lower bands come close together, indicating a period of low volatility. This compression often precedes a significant price movement, either up or down. When combined with other technical indicators, traders use this pattern to anticipate potential breakouts.
All in all, the crypto community eagerly awaits the outcome of today’s SEC meeting. It’s not 100% certain Ripple will be discussed, but any positive developments could significantly impact the XRP price and the whole crypto market.
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