XRP Army Hopes for SEC Decision Today As Another Closed Door Meeting Holds In 2 Hours
Main Idea
The XRP community is anticipating a potential SEC decision today regarding the closure of its case against Ripple, which could have significant implications for XRP's legal status and market performance.
Key Points
1. The SEC is holding a closed-door meeting today, with 'litigation claims' on the agenda, sparking speculation about a possible end to the Ripple case.
2. The SEC's case against Ripple began in December 2020, accusing the company of unregistered securities sales via XRP; a July 2023 ruling partially favored Ripple.
3. Ripple agreed to a $50 million settlement, and the case's resolution now depends on the SEC formally withdrawing its appeal, which requires a commission vote.
4. XRP is currently trading at $3.10, with analysts noting $3.23 as a key resistance level; a favorable SEC decision could drive prices higher.
5. A resolution could solidify XRP's legal status and pave the way for institutional adoption and exchange-traded products (ETPs) tied to XRP.
Description
The XRP community is on high alert as the U.S. Securities and Exchange Commission (SEC) holds another closed-door meeting today at 2:00 PM ET. The anticipation stems from a post by prominent crypto influencer JackTheRippler on X, who highlighted the meeting’s potential to bring finality to the long-running Ripple lawsuit. The official Sunshine Act notice confirms that one of the agenda items is the “resolution of litigation claims,” fueling speculation that the SEC may be preparing to formally e...
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