Whoever is even remotely following the Ripple vs SEC case knows that there’s a meeting behind closed doors for SEC scheduled on Thursday, July 25th.
Rumors in the crypto community suggest that this meeting is about a potential settlement with Ripple.
On SEC’s official website, you can actually see an agenda for this meeting, which includes:
- Institution and settlement of administrative proceedings;
- Resolution of litigation claims; and
- Other matters relating to examinations and enforcement proceedings.
This agenda, while seemingly broad, could indeed point towards discussions about the Ripple case. The mention of “settlement of administrative proceedings” and “resolution of litigation claims” aligns with the speculation about a potential Ripple settlement.
However, it’s important to note that the SEC handles numerous cases, and this agenda doesn’t explicitly mention Ripple. As such, while the timing is intriguing, it’s crucial to note it’s not 100% that this meeting is indeed about Ripple.
Read also: Is Cardano Going to Zero? ADA Price Lags Other Top Altcoins
XRP Price Movements
Ripple’s XRP pumped from lows of around $0.4 to over $0.63 on July 18th. However, the XRP price faced resistance here and got rejected all the way to $0.54 levels.
Subsequently, the price pumped over 10% again and is now trading around $0.61.
Whale transactions, with 48 million XRP purchased this week, might suggest strong confidence among major investors.
Technical indicators send negative signs for XRP chart: RSI is below 45, so it’s not in the bullish zone. On top of that, MACD line is below MACD signal line which is another bearish sign.
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Show more +That being said, if news from the meeting is indeed positive on Thursday, the price might break the $0.7 resistance, potentially opening the way to higher levels.
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