Will July 10 Meeting End Ripple Lawsuit?

Key Points:

• XRP community speculates SEC’s July 10 meeting may resolve appeal in Ripple lawsuit.
• Attorney Marc Fagel says closed-door SEC meetings are routine, not specific to Ripple.
• XRP price reacts to legal updates as Ripple lawsuit remains unresolved before key SEC meeting.

The ongoing XRP vs SEC case has drawn renewed attention ahead of a scheduled closed-door meeting by the U.S. Securities and Exchange Commission (SEC) on July 10. The meeting is expected to address various matters, including litigation claims and enforcement proceedings.

Meanwhile, the SEC’s Sunshine Act Notice lists the July 10 meeting as covering “the institution and settlement of injunctive actions and administrative proceedings.” This has led many in the XRP community to speculate that the SEC could potentially address or resolve its appeal in the Ripple lawsuit. However, no official confirmation has been provided.

Market Watchers Await SEC’s Position on Ripple Appeal

Following Ripple’s recent withdrawal of its counter-appeal, observers are watching to see whether the SEC will make a similar move. So far, the commission has not dropped its appeal. This has created expectations that the upcoming meeting could serve as a venue to consider that step.

Crypto-focused accounts on social media, including STEPH IS CRYPTO, have suggested that the meeting might act as a turning point. Some view the event as a possible signal that the lawsuit is entering its final stage. No formal statements from the SEC or Ripple have confirmed this view.

Legal Experts Offer Caution on Outcome Expectations

Attorney Marc Fagel, a former SEC regional director, has addressed the circulating speculation. In a recent comment, Fagel described the closed-door meetings as routine and stated that they are held weekly as part of standard procedures. 

“The meeting they hold every Thursday is being held Thursday. Tells us nothing about Ripple timing. Sorry,” he said.

Fagel added that he has not seen any inside details of the Ripple case. 

“I don’t have any confidential information about the case; I’ve been gone for over a decade,” he said. 

He acknowledged that both parties may eventually drop their appeals but emphasized that no action has occurred yet.

“They clearly will, soon enough, but it hasn’t happened yet,” he noted.

XRP vs SEC Lawsuit Still Unresolved Ahead of Key Meeting

The XRP vs SEC legal battle continues to be monitored by investors and the broader crypto industry. XRP has experienced price movement in recent weeks, with market participants linking changes to updates in the legal proceedings.

Consequently, with the SEC’s July 10 meeting approaching, questions remain on whether it will address the Ripple lawsuit directly. For now, no official announcement has been made, and the case remains open. The meeting is set for 2:00 p.m. Eastern Time.