Closed Door Meeting Abruptly Canceled—What’s Next for the XRP Case?
Today's closed-door meetings between Ripple and the SEC were highly anticipated, with many hoping for a resolution. Instead, the meeting was canceled again, and neither Ripple nor the SEC provided any updates.
Well, what's brewing behind the scenes?
Canceled meeting: What's behind the delay?
Vandel Aljarah, co-founder of Black Swan Capitalist, said on X that today's scheduled meeting has been postponed. He hinted that the issue may be more about internal control operations than actual legal debate, suggesting that there is nothing new to discuss.
The mention of the Sunshine Law notice indicates that the discussions focused on procedural issues rather than substantive legislative reforms.
Why is the SEC running away?
The SEC's decision to avoid the meeting may be influenced by recent court decisions in favor of cryptocurrencies, forcing the agency to reconsider its position. In addition, growing political pressure, especially from the US administration as Trump engages with the crypto community, could affect regulatory strategies and contribute to the delay.
Ripple does not stand back!
The SEC's repeated delays point to a possible lack of evidence in Ripple's case. Ripple CEO Brad Garlinghouse didn't hold back on his criticism of the SEC. He pointed to the SEC's recent decision to stop enforcing the ADA and SOL as a sign of the agency's hypocrisy. Garlinghouse says the move reflects the SEC's inconsistent and problematic handling of cryptocurrency regulations, adding to criticism of the agency's approach.
XRP on thin ice – again!
In front of the market, the price movement of XRP has become popular. Despite a 0.72% decline on July 31, July closed at $0.6232 with a significant gain of 31.09%, breaking above the multi-year resistance trend line. Recently, XRP touched $0.65 for the first time since March, and analysts are optimistic about it. Additional profits with possible targets at $0.66, $0.74, and even $1. If the bullish momentum continues, XRP could see a significant move to the upside.
For many investors hoping for changes in crypto policy, Ripple vs. The SEC case is critical. However, every delay continues to affect XRP. Will the issue be resolved soon or will there be more obstacles for XRP? Time will tell.
Also Read: Today's Crypto News: Bitcoin, Ethereum Brace for Volatility as Fed Expects Rates
