- XRP Army awaits the SEC’s August 1 meeting and Judge Torres’ impending ruling.
- They expect final judgment in the SEC and Ripple case as early as this week.
- XRP price shows an 8% increase amid legal uncertainty and market optimism.
Anticipation dampened last week as the keenly followed SEC close-door meeting, rumored to involve a potential settlement with Ripple, ultimately failed to deliver any significant updates on the case. However, the XRP Army is now shifting its focus to another upcoming SEC closed-door meeting scheduled for August 1.
Similar to the previous meeting, the agenda for the August 1st gathering includes a range of topics, such as the institution and settlement of injunctive actions and administrative proceedings in ongoing litigations.
Meanwhile, speculation is swirling on X that Judge Analisa Torres is pushing to deliver a final judgment in the protracted legal battle between the SEC and Ripple as early as this week. While the likelihood is low, a final court verdict in the case is nonetheless imminent, as affirmed by Ripple CEO Brad Garlinghouse.
Notably, Ripple’s fate rests in the hands of Judge Torres, who must determine the penalty for the illegal sale of unregistered XRP to institutional investors. The penalty could be as high as $2 billion, as requested by the SEC, along with a potential injunction.
An injunction prohibiting XRP sales to institutional investors could have far-reaching implications, potentially derailing Ripple’s U.S. expansion plans. Moreover, if Judge Torres grants the SEC’s request, XRP could face significant selling pressure.
Despite the uncertainty surrounding the Ripple vs. SEC case, the XRP price has been on the rise. Over the past week, it has appreciated by 8% and is currently trading around $0.60.
It is worth recalling that last July, a favorable ruling in the case propelled XRP from approximately $0.47 to $0.93, defying the bear market at the time. With the current, more optimistic conditions, there is growing speculation that the XRP price could potentially break the $1 barrier with favorable news.
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