The SEC held a closed-door meeting yesterday, where a potential settlement with Ripple was reportedly on the agenda.
However, as of now, the SEC hasn’t provided any updates from this meeting, which took place at 2 pm Washington time on July 25th.
It remains to be seen whether this “no news” scenario is actually positive or negative for Ripple.
As more time passes without an update, the chances increase that there are no developments in Ripple’s case, or that this meeting wasn’t about that topic at all.
Bill Morgan, Ripple’s lawyer, tweeted about the situation, suggesting that the showdown between Ripple and the SEC has already occurred in court.
If a settlement meeting does take place, it wouldn’t be a showdown but rather a negotiation. While this scenario is unlikely, if it does occur, it would represent a compromise rather than a decisive victory. In such a case, both parties would likely have to concede something.
XRP Price Movement
So, what’s next for XRP’s price?
The price actually pumped 8% this week and still hovers around the $0.60 mark, despite being down 4% today.
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Show more +XRP’s value is heavily influenced by the outcome of the Ripple vs SEC case, and the lack of news could put additional selling pressure on the price. In fact, that’s already happening today.
In conclusion, the crypto market continues to watch the Ripple-SEC saga closely. While the recent closed-door meeting has sparked speculation, the absence of concrete updates leaves investors in a state of uncertainty. As always, the XRP price remains sensitive to these legal developments.
Read also: Indicator Flashes Buy Signal for Chainlink (LINK) Amid Multiple Bullish Triggers
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