Speculation rises that the SEC’s closed-door meeting on July 10 could be a turning point in the long-running XRP SEC lawsuit.
Since the commission has set a closed-door meeting for July 10, the lengthy XRP SEC lawsuit has again drawn notice.
Rumors of a potential conclusion with the SEC abandoning its appeal are circulating as market participants anxiously await any indications of resolution.
Will a final decision be reached as a result of this meeting?
Is XRP SEC Lawsuit Coming To End?
The SEC has set a follow-up closed-door meeting for July 10 after the July 3 hearing.
Since there are increasing rumors that the XRP SEC lawsuit may receive a significant update, the cryptocurrency world anxiously anticipates the day.
The SEC’s Sunshine Act Notice states that the next meeting will be held behind closed doors on July 10 at 2:00 p.m.
The main subjects of discussion at this meeting are the resolution of litigation claims, the institution and settlement of injunctive actions and administrative proceedings, and other issues about exams and enforcement proceedings.
Hopes for a future resolution or settlement have been bolstered by the intense speculation that the SEC may discuss and resolve unresolved concerns in the Ripple lawsuit.
According to market specialists like STEPH IS CRYPTO, there are rumors that the SEC conference will impact the Ripple case.
Many see this event as a bullish stimulus for the price of XRP and a possible turning point for the Ripple litigation.
The community has been waiting for the commission to take a similar action since Ripple’s formal notification of its dismissal of the counter-appeal.
Routine Meeting 0f SEC, Pivotal Moment In Ripple Case?
The SEC has not yet withdrawn its appeal in the XRP case, even though Ripple withdrew its counter-appeal.
The SEC’s possible actions are being watched closely, but lawyer Marc Fagel warns that the process might take weeks or longer.
According to Fagel, who had previously denied similar reports on several occasions, the SEC’s closed-door meetings are merely regular weekly sessions.
He thinks these meetings have not significantly affected the XRP SEC lawsuit.
“In other words, the meeting they hold every Thursday is being held on Thursday,” Fagel stated before the SEC meeting on July 3.
This gives us no information regarding the timing of ripples. I apologize.
He is still hopeful, though, that the SEC and Ripple would shortly withdraw their challenges.
“It hasn’t happened yet, but it’s obvious that they will, soon enough,” he said.
Fagel went on to emphasize the ambiguity surrounding the case’s verdict by saying,
“I don’t have any confidential information about the case; I’ve been gone for over a decade,” stated Fagel. “I’m just familiar with agency procedures.”
The SEC’s subsequent actions are being closely watched, and the Ripple case is still in the balance.
It’s still unclear if the impending SEC meeting will be a watershed in the XRP case, as the industry anxiously awaits.
