The XRP price surged nearly 40% earlier this week, briefly reaching $0.64 amid growing speculation that Ripple Labs might be nearing a settlement with the U.S. Securities and Exchange Commission (SEC). However, the momentum quickly reversed after the SEC canceled a previously scheduled closed-door meeting, sending XRP back down to $0.56 before stabilizing at $0.58—still a 24% weekly gain as of this report.
This sharp price movement underscores the intense market sensitivity surrounding the long-running legal battle between Ripple and the SEC, now entering its fifth year. The rally briefly elevated XRP to the sixth-largest cryptocurrency by market capitalization, reflecting strong investor sentiment tied to potential regulatory clarity.
Market Reaction to SEC Meeting Cancellation
On Wednesday, July 17, XRP began an upward trajectory in anticipation of a confidential meeting scheduled for the following day between the SEC and an unnamed party. The meeting agenda included items such as “establishment and resolution of injunctive actions” and “resolution of litigation claims”—phrases that many in the crypto community interpreted as indirect references to the Ripple case.
However, by Thursday, the SEC issued a new notice canceling the meeting without explanation. This sudden reversal triggered a sell-off, with XRP shedding gains overnight. Prices continued to drift lower through Thursday and Friday morning, though they have since partially recovered.
Despite the pullback, XRP remains up 24% on the week, highlighting underlying bullish sentiment. A spokesperson for Ripple Labs confirmed to Decrypt on Friday that the company "did not meet with the SEC this week," adding further uncertainty to the speculation.
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New SEC Meeting Scheduled for July 25
In a development reigniting hope among investors, the SEC has announced another closed-door meeting set for July 25. While the agenda differs slightly—omitting “establishment and resolution of injunctive actions”—it retains key phrases related to litigation resolution that mirror those from the canceled session.
Notably, neither meeting explicitly mentions Ripple Labs or XRP. Yet, given the timing and thematic overlap, many analysts and traders believe these proceedings could involve discussions about resolving the ongoing lawsuit.
Social media influencers and crypto commentators have amplified this narrative, sharing speculative posts linking the meetings to Ripple—even in the absence of direct evidence. This blend of anticipation and ambiguity continues to drive price volatility.
The Ripple vs. SEC Legal Battle: A Timeline
The U.S. SEC filed a lawsuit against Ripple Labs in December 2020, alleging that the company raised over $1.3 billion by selling XRP as an unregistered security. The case has since become a landmark in crypto regulation, with far-reaching implications for how digital assets are classified under U.S. law.
A pivotal moment came in July 2023 when Judge Analisa Torres ruled that XRP itself is not a security when sold to retail investors on public exchanges—a partial victory for Ripple. However, the court also found that institutional sales of XRP did violate securities laws.
Since then, both parties have been locked in a dispute over penalties. In April 2024, Ripple proposed a $10 million fine as part of a potential settlement. The SEC countered with a demand for $2 billion, maintaining its aggressive enforcement stance.
Ripple’s Chief Legal Officer, Stuart Alderoty, recently emphasized that while the company awaits judicial determination on remedies, “the court's finding that XRP is not a security will not change.” He added that even the SEC has acknowledged to the court that it does not intend to challenge that specific ruling.
This acknowledgment strengthens Ripple’s position and bolsters confidence among XRP holders that a favorable resolution may be within reach.
Why This Case Matters Beyond XRP
The outcome of the Ripple-SEC litigation extends well beyond one cryptocurrency or company. It could set a precedent for how other digital assets are treated under U.S. securities law.
If Ripple secures a settlement that affirms XRP’s status as a non-security in most contexts, it may pave the way for greater institutional adoption and clearer regulatory guidelines for other blockchain projects.
Conversely, a harsh penalty or adverse final judgment could chill innovation in the U.S. crypto space, pushing development overseas where regulations are more accommodating.
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Frequently Asked Questions (FAQ)
Will XRP go up if Ripple settles with the SEC?
Historically, positive developments in the Ripple-SEC case have triggered sharp increases in XRP’s price. A formal settlement—especially one involving a reasonable fine and recognition of XRP as a non-security—would likely lead to significant bullish momentum and renewed exchange listings in the U.S.
Is XRP considered a security by the SEC?
Not entirely. In a landmark 2023 ruling, a U.S. court determined that XRP is not a security when sold to retail investors on public exchanges. However, institutional sales were deemed to violate securities laws. The SEC has not appealed the core finding about retail sales.
What happens after the July 25 SEC meeting?
There is no guarantee the meeting involves Ripple. If it does, outcomes could include procedural updates, settlement discussions, or scheduling further court dates. Any official announcement would likely come through court filings or press releases.
Can I buy XRP in the United States?
Yes—several major U.S.-based exchanges now list XRP following the court’s clarification on its status. Availability varies by platform and state regulations, so check your local exchange options.
How does the Ripple case affect other cryptocurrencies?
The case serves as a regulatory test case. A favorable outcome could encourage clearer rules for Ethereum, Solana, and others facing similar scrutiny. It may also influence how the SEC approaches future enforcement actions.
What is Ripple’s current legal strategy?
Ripple is focused on minimizing penalties while reinforcing the court’s ruling that XRP is not a security for retail buyers. The company continues to advocate for legislative clarity and has engaged in public education campaigns about blockchain innovation.
Final Outlook
As July 25 approaches, all eyes remain on the SEC’s next move. While no official confirmation ties the upcoming meeting to Ripple, historical patterns suggest that even indirect signals can significantly impact market dynamics.
For investors, staying informed—and avoiding emotional trading based on rumors—is crucial. Regulatory clarity remains the single biggest catalyst for XRP’s long-term growth potential.
With over four years of legal scrutiny behind it, the Ripple-SEC saga may finally be nearing its endgame. Whether that conclusion brings closure or continued conflict will shape not only XRP’s future but also the broader trajectory of U.S. crypto policy.