The closed-door meeting between Ripple and the SEC, scheduled for today, was abruptly cancelled, leaving many anticipating an update on the ongoing lawsuit. Vandell Aljarrah, Co-founder of Black Swan Capitalist, highlighted that the cancellation suggests the case may involve more internal regulatory maneuvers than substantive legal discussions. He pointed out that the meeting's cancellation could be due to procedural matters rather than significant developments in the case.
Several factors may be influencing the SEC’s reluctance to engage in closed-door discussions. Recent court rulings in favour of cryptocurrencies might be prompting the SEC to reassess its position. Additionally, political pressures, especially from figures like Trump seeking to align with the crypto community, could be impacting regulatory strategies.
Ripple CEO Brad Garlinghouse has been vocal in his criticism of the SEC, accusing the agency of hypocrisy. Garlinghouse has criticised the SEC’s decision to retract its classification of ADA and SOL as securities, viewing it as evidence of the SEC's inconsistent and problematic approach to cryptocurrency regulation.
Despite the ongoing legal uncertainties, XRP has shown notable price movements. The cryptocurrency recently surpassed a multi-year resistance trend line, closing July with a 31.09% gain at $0.6232. Although XRP experienced a slight decline of 0.72% on July 31, it touched $0.65 for the first time since March. Analysts remain optimistic, setting potential targets at $0.66, $0.74, and even $1, provided the bullish momentum continues.
The Ripple vs. SEC lawsuit remains a critical issue for many investors advocating for clearer crypto policy reform. The repeated delays in the case are causing concern among investors, leading to speculation about whether the lawsuit will soon conclude or result in further setbacks for XRP.
XRP stands out in CoinShares report, attracting $300k inflows amid $126m outflow trend. Positioning itself among top altcoins, XRP faces challenges amidst shifting market dynamics. Regulatory uncertainties affect prospects for XRP ETF, future outlook remains uncertain.
Xu LinMassive XRP transfer of 210M tokens raises speculation. Unidentified wallets deepen mystery. Possible KuCoin connection amid regulatory concerns. XRP price at $0.628 despite Ripple lawsuit uncertainties.
Huang BoSpeculation mounts on BlackRock XRP ETF timeline amid XRP community demand and ongoing legal battle. Industry experts suggest launch may align with SEC vs. Ripple resolution.
EdmundXRP whale activity spikes, exchanging 515 million XRP in 24 hours. Notable transactions to major exchanges raise interest. Max Keiser predicts bearish future for XRP, labeling it 'centralized garbage.'
Xu LinThe recent surge in XRP whale activity and growing investor interest indicate a potential positive shift in the XRP market. While predictions of a substantial price surge persist, the current trading status suggests a cautious approach. Investors and enthusiasts will be closely monitoring market developments for further insights.
BerniceThe U.S Securities and Exchange Commission (SEC) is reportedly asking a federal judge to pay...
dailyhodlRipple Labs has announced a new president as the U.S. Securities and Exchange Commission’s (SEC) lawsuit against the payments platform nears a conclusion.
dailyhodlXRP community around lawyer Frederick Rispoli has brought a class action lawsuit against Coinbase and its CEO Brian Armstrong.
BitcoinistA legal expert is weighing in on how the judge in the legal battle between U.S. Securities and Exchange Commission (SEC) and Ripple Labs will likely proceed.
dailyhodlXRP rallied 10% after the ruling was announced.
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