In the world of cryptocurrency, one topic that has been making waves is the rumored closed meeting between Ripple and the U.S. Securities and Exchange Commission (SEC). Industry insiders are buzzing with speculation about the possible outcomes of this meeting, which could mark a pivotal moment in the ongoing XRP case. There is a growing belief that this meeting might lead to the case being resolved or even dropped entirely, with expectations for an official announcement building among crypto enthusiasts.
Community Resilience: The XRP Supporters’ Unyielding Spirit
The XRP community has demonstrated remarkable resilience and optimism throughout this legal saga. Despite facing setbacks and disappointments, the community remains steadfast, gathering each month in anticipation of new updates. Their unwavering dedication has been applauded by many, showcasing a collective belief in a positive resolution for Ripple and its XRP token.
Insights from Former SEC Lawyer Marc Fagel
Adding to the discourse, former SEC lawyer Marc Fagel shared his perspective on the matter. According to Fagel, Ripple has been a frequent topic in SEC discussions over the years. He recounted his experiences from the late 1990s, noting that settlement talks regarding Ripple were already underway back then. Fagel commented on the current trajectory of the SEC, predicting that they will proceed with filing the opening brief as originally planned. However, he also hinted at the possibility of an unforeseen twist, where the new SEC chair, once confirmed, might consider dismissing the appeal—a rare but conceivable move if the right leadership is in place.
Potential Shifts in SEC’s Approach
Fagel elaborated on the dynamic nature of SEC leadership, suggesting that changes at the top could steer the commission in a new direction. He speculated that figures like Atkins, Peirce, or Uyeda may have the influence to advocate for dismissing the appeal, a decision that would undoubtedly send ripples through the crypto industry.
- Also Read:
- SEC Commissioner Hester Peirce Signals SEC’s Shift Toward Pro-Crypto Innovation
SEC’s Shutdown, RLUSD Live, and Market Implications
In related news, the SEC is bracing for a potential government shutdown, which could disrupt its operations. Such shutdowns, coupled with financial instability like the U.S. government’s debt challenges, add further pressure to the markets. Meanwhile, Ripple’s RLUSD launch initially sparked positive price movements but has since felt the effects of broader market downturns. Despite these challenges, Ripple CEO Brad Garlinghouse remains optimistic about RLUSD’s potential to significantly impact the company’s future. Should the SEC provide regulatory clarity and potentially dismiss the ongoing case, XRP could be poised for a substantial rally.
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