The Securities and Exchange Commission (SEC) is set to hold a crucial closed-door meeting on Thursday, July 18th. The secretive nature of the meeting has raised expectations that a resolution to the extensive legal conflict between the SEC and Ripple Labs may be imminent.
While specific details of the agenda have not been officially disclosed, insider information suggests that the Ripple litigation and potential avenues for settlement will be discussed. According to a circulating document shared on crypto-related social media, the meeting will be attended by SEC commissioners, their respective lawyers, the commission secretary, and registration secretaries. SEC team members with a vested interest in the scheduled matters are also invited to participate.
BOOOOOOOM! private executive meeting at their headquarters in Washington for this Thursday (18 Jul-24)! Reliable sources have informed us that this meeting is connected to the #Ripple vs #SEC resolutions and the finalization of the court case! #XRP pic.twitter.com/9lEy33mPaI
— Brett Hill (@Brett_Crypto_X) July 12, 2024
The document outlines the topics to be addressed, including the imposition and settlement of preliminary injunctions, administrative procedures, litigation claims, and other issues related to regulatory examinations and enforcement. Although the Ripple case is not explicitly mentioned, speculation within the crypto community is that it will be a focal point of the discussion given its significance and the SEC’s history of involvement in multiple litigations.
The protracted legal dispute between Ripple and the SEC has been viewed as a hindrance to the development of the XRP cryptocurrency, used by Ripple in its payment solutions. It is hoped that a potential resolution could facilitate a recovery in XRP’s value, which has experienced successive declines over the years.
In the past 24 hours, XRP has shown signs of recovery, gaining 10% and reaching a price of $0.5145. This movement coincides with the anniversary of a crucial decision by Judge Analisa Torres, highlighting the significant impact of legal developments on the cryptocurrency’s value.
There are growing expectations that the XRP price may soon surpass the $1 mark, surpassing the previous resistance level of $0.8, especially if the litigation reaches a favorable conclusion.
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