XRP SEC Lawsuit: Will July 10 Meeting Mark End of Ripple Case?

The protracted XRP SEC lawsuit has once again caught the attention as the commission has scheduled a closed-door meeting on July 10. As market participants eagerly await any signs of resolution, rumors of a possible conclusion with the SEC withdrawing its appeal are swirling. Will this meeting prove to be the catalyst for a final verdict?

Is XRP SEC Lawsuit Nearing Conclusion?

Following the July 3 meeting, the SEC has scheduled another closed-door meeting for July 10. The crypto community is eagerly awaiting the day, as there are growing speculations that the XRP SEC lawsuit could see a major update.

According to the SEC’s Sunshine Act Notice, the next closed-door meeting is set for July 10, at 2.00 p.m. This meeting will reportedly cover major topics, including the institution and settlement of injunctive actions and administrative proceedings, resolution of litigation claims, and other matters related to examinations and enforcement proceedings. This agenda has sparked intense speculation that the SEC might discuss and potentially resolve outstanding issues in the Ripple lawsuit, fueling hopes of a possible conclusion or settlement.

Market experts like STEPH IS CRYPTO have shared insights on the circulating rumors about the SEC meeting’s possible impact on the Ripple case. Many view this development as a potential turning point not only for the Ripple lawsuit but also as a bullish catalyst for XRP’s price. Since Ripple’s official announcement on its counter-appeal dismissal, the community is awaiting a similar move from the commission.

SEC Meeting Looms: Routine Session or Ripple Case Turning Point?

Despite Ripple withdrawing its counter-appeal in the XRP case, the SEC has yet to drop its appeal. While all eyes are on the SEC’s potential moves, attorney Marc Fagel cautions that the proceedings may take several weeks, or even longer.

Fagel had previously dismissed these rumors multiple times, arguing that the SEC’s closed-door meetings are only routine weekly sessions. He believes that these meetings do not have much impact on the XRP SEC lawsuit. Prior to the July 3 SEC meeting, Fagel said, “In other words, the meeting they hold every Thursday is being held Thursday. Tells us nothing about Ripple timing. Sorry.”

However, he remains optimistic that both Ripple and the SEC will drop their appeals soon. He noted, “They clearly will, soon enough, but it hasn’t happened yet.” Further highlighting the uncertainty surrounding the case’s outcome, Fagel stated,

“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 Ripple case continues to hang in the balance, with the SEC’s upcoming moves under intense scrutiny. As the industry waits with bated breath, it remains unclear whether the upcoming SEC meeting will mark a turning point in the XRP lawsuit.