The legal battle between Ripple and the SEC may be nearing a turning point as the SEC prepares for a closed-door meeting on July 10 to discuss the potential withdrawal of its appeal.
SEC Meeting on July 10
The U.S. Securities and Exchange Commission (SEC) has scheduled a closed-door meeting for July 10, 2025, as part of its obligations under the Sunshine Act. The agenda includes discussions on initiating or settling legal actions, handling administrative proceedings, and other enforcement-related matters, raising speculation about the Ripple lawsuit potentially being discussed.
Ripple and CEO's Response
Ripple's CEO has expressed the company's intent to withdraw its cross-appeal; however, the SEC has not yet dropped its appeal in the XRP case. Legal experts indicate that a resolution could still take weeks or longer. Despite the speculation surrounding the case's conclusion, there has been no official update regarding the XRP situation.
Impact on XRP Price
XRP's price is known to respond to legal news, and the upcoming SEC meeting on July 10 could influence its next movement. Additionally, Ripple CEO Brad Garlinghouse is scheduled to testify before the Senate Banking Committee on July 9, where he will advocate for clear regulatory guidelines for the crypto market. As pressure mounts for clear crypto regulations, this week could be pivotal for XRP.
The SEC's closed-door meeting and the potential withdrawal of its appeal could significantly impact Ripple and its XRP token. The anticipated events this week may prove crucial for the company's future and the broader crypto market.
