The Ripple (XRP) community is speculating about the upcoming SEC meeting today

TL;DR

Ripple’s legal battle against the SEC is still ongoing, with some experts predicting a resolution by the end of the summer. An SEC meeting today fueled speculation about an imminent deal. Ripple’s XRP token has been recovering and could experience significant volatility depending on the outcome of the lawsuit. A favorable decision could trigger a bull run, while an adverse decision could hinder its progress.

Could today be the big day?

The legal battle between Ripple and the US Securities and Exchange Commission (SEC) has witnessed numerous developments of late. It entered its trial phase in April 2024 (more than three years after the trial began), with both parties submitting the necessary information and documents and complying with court rules.

Despite being in its final stage, a resolution is yet to be reached. Ripple’s CEO recently argued that the entities could shake hands “very soon,” while other experts were more precise with their predictions. US Attorney Fred Rispoli suggested the case could be officially closed on July 31, while Jeremy Hogan thinks that could happen before the end of the summer.

Some X users speculated that a deal could be announced as soon as this week based on the SEC’s closed-door meeting scheduled for today (July 25). The agency is supposed to deal with several topics, including “Institution and resolution of administrative proceedings” and “Resolution of litigious claims.” The meeting was initially set for July 18, but was later rescheduled for today.

On the other hand, other industry participants recalled that the Commission often holds similar meetings and so far has not touched the Ripple case.

The possible impact on XRP

Ripple’s native token has recovered recently, briefly rising to $0.63 last week and currently hovering around $0.61. It is one of the few altcoins that have defied the entire market correction. Bitcoin (BTC), for example, is down 2.5% in the last 24 hours, while Ethereum (ETH) is down almost 10% in the same period.

A possible resolution of the Ripple lawsuit against the SEC could lead to more volatility for XRP, as the asset could repeat its rise from last year in the event of a positive outcome for the company or vice versa.

Some believe that Ripple has the upper hand in the dispute, having scored three vital (albeit partial) victories over the course of 2023. The price of XRP soared more than 70% within hours of the first triumph in July from last year Judge Torres then ruled that Ripple’s programmatic sales to secondary trading platforms do not constitute offers of investment contracts.

Those who want to learn more about the case and its possible impact on XRP, watch our dedicated video below:

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