Today, July 10, the U.S. Securities and Exchange Commission (SEC) is conducting a closed meeting that could have a significant impact on the Ripple case. Analysts like STEPH IS CRYPTO speculate about possible price changes for XRP if the SEC decides to withdraw its appeal.
Overview of the Ripple vs SEC Case
The legal battle between SEC and Ripple Labs began in December 2020 when the SEC filed a lawsuit, claiming that Ripple's sale of XRP was an unregistered securities offering. After Judge Analisa Torres' ruling in July 2023, where it was established that XRP sales to retail investors are not considered securities, both parties filed appeals.
Significance of the SEC Meeting
Today's SEC meeting, held under the Government in the Sunshine Act, includes 'resolution of litigation claims' on the agenda, raising speculations about the Ripple case. If the SEC votes to dismiss its appeal, it would mean the resolution of many years of regulatory uncertainty for XRP.
XRP's Potential if Conditions Change
Experts believe that an SEC withdrawal could open new opportunities for XRP, such as relisting on exchanges and institutional adoption. XRP is currently trading close to a critical breakout level, and this meeting could serve as a catalyst for significant price increases. If the SEC takes steps to end the case, it may lead to a historic breakthrough for XRP.
The SEC's closed meeting could be a defining moment for XRP, providing much-needed clarity on the asset's legal standing. If the SEC withdraws its appeal, Ripple will achieve a partial legal victory, potentially opening new horizons for XRP.
