Sign Up on MEXCBreaking: SEC Meeting Raises Hopes for Ripple-XRP Case Resolution
According to a recent announcement, the Securities and Exchange Commission (SEC) of the United States is convening for a crucial, confidential meeting. Although the official agenda does not specify the Ripple case, this gathering has sparked intense speculation among investors and followers of XRP.
With the Ripple vs. SEC saga ongoing, market observers are closely monitoring any potential developments that might emerge from this meeting.
Key Developments in the Ripple-SEC Case
Ripple’s legal challenges with the SEC have reached a critical phase. The first week of February 2024 is pivotal as it marks the deadline for completing discovery related to remedies in this case. Ripple will then have a month to articulate its objections to the SEC’s proposed remedies. The SEC will subsequently have the chance to reply to Ripple’s objections by late April. This timeline sets the stage for a potentially decisive turn in this protracted legal battle.
A significant fine imposed on Ripple in mid-summer is central to this dispute despite recognizing XRP’s secondary market activities as non-security transactions. Ripple’s fine, exceeding $700 million, stems from dealings with legal entities. This development has affected Ripple and had broader implications for the cryptocurrency market, influencing investor sentiment and regulatory outlooks.
Whale Movements Amid Legal Uncertainties
Amid these legal proceedings, XRP’s market behavior has captured the spotlight. Notable whale activities involving the transfer of substantial XRP amounts to centralized exchanges have been reported by Coingape. A single whale moved over 46 million XRP, causing ripples in the market.
The first transaction, involving more than 25 million XRP, was directed to Bitstamp, while a second, moving 18.5 million XRP, targeted Bitso.
Read Also: Best Crypto To Buy Now On November 30 – IOTA, LINK, OCEAN
- Cathie Wood’s Ark Invest Backs Nasdaq-Listed Solmate To Launch $300M Solana Treasury
- First U.S. Spot Dogecoin and XRP ETFs Launch as REX-Osprey Debuts DOJE and XRPR
- Analyst Calls $6 XRP Target for November Amid Ripple CEO’s White House Stockpile Hint
- Ethereum Faces Selloff Risks As Whales’ Unrealized Profit Hits 2021 Highs
- Expert Predicts 138% Shiba Inu Rally as SHIB Futures Listing Opens Spot ETF Path
- Cardano Price Stays Above Ichimoku Cloud as Grayscale ADA ETF Approval Nears
- HBAR Price Prediction as SEC Approves Generic ETF Framework – Analyst Targets $1.80
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
