Recent discussions surrounding a potential settlement between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have been clarified by former SEC securities lawyer Marc Fagel. Fagel refuted ongoing speculation, emphasizing that there are no current settlement talks between the parties. He highlighted the extensive nature of meetings since the case's inception, dispelling rumors of imminent agreements.
The SEC's closed-door meeting included discussions on various topics, including the institution and settlement of injunctive actions and administrative proceedings. Despite speculations, no settlement discussions specific to Ripple were confirmed during these sessions.
XRP has seen significant price movement ahead of anticipated legal rulings. Pro-XRP figures like lawyer Bill Morgan have expressed optimism over the recent bullish trend, with expectations focused on potential rulings on penalties and injunctions by late July or early August.
Technical analysis indicates bullish momentum for XRP, with the Relative Strength Index (RSI) on the verge of breaking a 6.5-year downtrend, suggesting potential for further price gains. The current price of XRP stands at $0.543, reflecting a notable 27% increase over the past week. Increased trading volume, up by 66% in the last 24 hours, underscores growing trader interest and market activity.
While settlement rumors have been debunked by a former SEC lawyer, the XRP market remains bullish ahead of key legal developments. Market participants await further clarity from impending court rulings, which could significantly influence XRP's future trajectory and regulatory landscape.
Ripple's XRP surges 40% amid SEC settlement speculation and 150 million XRP transfer. Monthly escrow sell-offs continue, managing XRP's supply despite recent price increases.
EdmundExpert hints at potential end to Ripple-SEC legal battle, citing key indicators and speculation of settlement. Confirmation awaits official statements.
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BeincryptoAccording to Marc Fagel, an SEC veteran and former Director, a ruling in the case between the SEC and Ripple might be coming in days.
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