- The SEC scheduled a private meeting for today, August 1, 2024.
- XRP supporters expect the meeting to be the key to Ripple’s final settlement.
- Users expect the SEC’s decision to trigger an XRP rally.
Crypto community members are actively sharing what they claim to be a memo for a special, closed-door meeting scheduled by the U.S. Securities and Exchange Commission for today, August 1, 2024.
As per blockchain researcher Collin Brown, the scheduled meeting could be key to a final settlement in the ongoing SEC vs. Ripple lawsuit.
Details of the shared document show it was created on July 25 and signed by the commission’s secretary, Vanessa Countryman. The meeting will be held at the commission’s headquarters in Washington, although most attendees will participate via remote connections.
Meanwhile, the memo outlines four bullet points representing the subject matter of the meeting, including the institution and settlement of injunctive actions, the institution and settlement of administrative proceedings, resolving litigation claims, and matters relating to examinations and enforcement of proceedings.
Following the release of the memo’s details, many in the crypto community, especially XRP supporters, believe the case between the SEC and Ripple will feature prominently during the closed-door meeting. They suspect it could be an opportunity for the commission to finalize the penalty Ripple would pay to conclude the ongoing litigation between the parties.
Like many Ripple supporters, Brown believes concluding the SEC-Ripple case would be bullish for XRP and could trigger a significant rally for the embattled altcoin. The blockchain researcher suggests now is a good time for altcoin traders to accumulate XRP tokens in anticipation of an upcoming price surge
XRP surged 72% in July amid initial rumors about a closed-door meeting scheduled for July 18, which the commission later canceled. The altcoin rallied throughout July, surging from $0.38249 to $0.65806 before pulling back slightly to trade for $0.60835 at the time of writing, according to data from TradingView .
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