Ripple vs. SEC Update: New Date for Closed-Door Meeting Disclosed as Brad Garlinghouse Hints at XRP Resolution Timeline
July was a good month for Ripple’s XRP, with its price spiking to $0.65, and XRP rising by more than 30% to outperform Bitcoin.
However, the market sentiment shifted again and XRP saw a 10% drop. Part of what raised the hope of many was the last proposed closed-door meeting which many believed Ripple and SEC would be discussed. However, the meeting was canceled.
The recent unlock of 500 million XRP tokens ($297.74 million) has raised speculation around the issue with some suggesting that it could mean that a resolution is near.
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Crypto Parc, a crypto influencer with close to 300 thousand followers, has also pointed attention to the upcoming closed-door meeting that the SEC has slated for August 8. The commentator thinks it could lead to a reconciliation and this will make the price of XRP skyrocket.
Ripple CEO Brad Garlinghouse in an interview with CNBC also pointed out that the case with the SEC is almost ending and there is a possibility of a resolution this summer.
This has also raised the hopes of many in the XRP ecosystem as they look forward to a major XRP spike. Price action and the situation with the SEC are already looking favorable for Ripple and could set the stage for a long-awaited bull run.
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