The XRP community is abuzz with anticipation as the U.S. SEC has announced a closed-door meeting scheduled for July 10. Speculation is rife that this meeting could hold the key to resolving the long-standing lawsuit against Ripple Labs. The official agenda, which mentions “enforcement matters,” has sparked hopes that a significant development may be on the horizon. This has led some to speculate that the SEC may be considering withdrawing its appeal against Ripple Labs, a move that could have far-reaching implications for XRP’s legal standing and market price.
However, legal experts like Marc Fagel have urged caution, tempering expectations by pointing out that closed-door SEC meetings rarely result in major announcements, especially over the weekend. Fagel emphasized that the SEC does not typically conduct business on Saturdays, casting doubt on the possibility of a weekend decision.
Despite the skepticism, some believe that a Saturday appeal withdrawal is legally feasible. One user even cited ChatGPT’s confirmation of this possibility. The XRP community remains hopeful that a resolution in the Ripple lawsuit could coincide with broader financial infrastructure upgrades, such as Fedwire’s transition to a Distributed Ledger Technology (DLT)-based system and the adoption of ISO 20022. Speculation abounds about the potential impact on XRP’s price and the broader financial landscape.
Some users are even predicting that a Ripple lawsuit dismissal could usher in a new era in finance, with one user suggesting that Fedwire’s upgraded system will go live on July 14, potentially following a Ripple lawsuit drop on July 10. This scenario, according to the user, could lead to a market crash followed by the dawn of a new financial system on Monday.
However, not everyone shares this optimism. There are concerns that if the SEC remains silent, XRP holders may once again find themselves at the mercy of government actions.
As the crypto community awaits the outcome of the SEC’s July 10 meeting, all eyes are on the potential implications for XRP and Ripple. Whether the meeting brings a legal breakthrough or proves to be a routine affair, it is clear that the future of XRP and Ripple’s regulatory battle hangs in the balance. Stay tuned for updates on this developing story.