The SEC has rescheduled the closed-door meeting with Ripple for July 25.
In anticipation of an imminent settlement, XRP surged by more than 20% over the past month.
The meeting was initially scheduled for July 18 but was canceled on July 17.
Ripple’s XRP token has surged over 6% after the Securities and Exchange Commission rescheduled a closed-door meeting, reigniting hopes for a potential settlement in the long-running legal battle between the two entities. The meeting, now slated for July 25, has fueled speculation that a resolution may be imminent.
The SEC initially scheduled a closed-door meeting for July 18, fueling optimism among the XRP community for a potential resolution to the ongoing lawsuit against Ripple. However, those hopes were dashed when the agency abruptly canceled the meeting a day before, sending XRP’s price tumbling to a low of $0.5448 on July 19.
The latest move has ignited an optimistic picture, with XRP trading at $0.5938, marking an increase of 6.76% in a day. It is noteworthy that the XRP token has seen larger surges of 17.54% and 20.21% over the last week and month, respectively. Nonetheless, there is a significant loss of 15% in the 24-hour trading volume of the token, currently at $2.14 billion.
In an X post, XRP advocate Bill Morgan highlighted XRP’s impressive price action following the SEC’s updated notice on the meeting. Morgan asserted that XRP had become the best-performing token among the top 10 cryptocurrencies.
WowXRP currently best performing of top 10Snapshots are momentary and say little. You are not impressing anyone using price snapshots to criticize XRP https://t.co/xGhH1HI1PY pic.twitter.com/Wy7Lr0Aedd
— bill morgan (@Belisarius2020) July 20, 2024
According to the SEC’s Sunshine Act Notice, the meeting is scheduled for July 25, 2024 (Thursday) at 2:00 p.m EST. Reportedly, the meeting is expected to address a series of matters including the institution and settlement of administrative proceedings, resolution of litigation claims, enforcement proceedings, etc. As the meeting is closed-door, the public will not have access to specific details discussed during the event.
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