Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) has again drawn attention, as potential resolution rumors begin to gain traction within the XRP community. Thus, investors and market analysts closely monitor XRP’s movements as the case approaches a critical juncture.
The rumor was triggered by the revelation of an upcoming SEC closed-door meeting scheduled for February 13, which has been speculated to play a decisive role in shaping the future of Ripple’s legal standing.
With regulatory uncertainty still pressing, market sentiment remains divided on whether XRP will gain long-term stability or face further challenges.
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Regulatory Uncertainty Surrounding SEC’s Crypto Policies
Acting SEC Chair Mark Uyeda has previously opposed the commission’s enforcement approach toward non-fraud crypto cases. His remarks emphasize the need to reassess regulatory policies concerning digital assets.
Uyeda assigned Commissioner Hester Peirce to lead the newly formed Crypto Task Force, which signals a potential shift in regulatory direction.
Despite this development, the SEC has not yet withdrawn its appeal regarding the Programmatic Sales of XRP ruling. The pending decision continues to influence market sentiment as investors weigh the possibility of a prolonged legal battle.
Market participants closely monitor the SEC’s next move, particularly with its closed-door meeting slated for February 13.
As outlined by the Sunshine Notice Act, the meeting agenda includes discussions on the institution and settlement of injunctive actions, administrative proceedings, and the resolution of litigation claims.
The SEC’s stance on these matters could directly impact the future of XRP. Investors are watching closely as the meeting may determine whether the SEC will continue with its appeal or decide to withdraw the case entirely.
The absence of Jorge Tenreiro, a key SEC litigator in the Ripple case who has recently transitioned to an IT division, further adds to the uncertainty surrounding the commission’s approach.
Market Reactions and Price Movements
On February 10, XRP traded at $2.4377, reflecting a 1.80% decrease. The market capitalization stood at $140.43 billion, with trading volume reaching 4.11 million XRP. The price fluctuated significantly, hitting an intraday high of $2.45344 before dipping to a lower support level of $2.32463.
Market analysts highlight key price scenarios dependent on regulatory outcomes. A withdrawal of the SEC’s appeal could push XRP above its all-time high of $3.5505. Discussions about a potential XRP-spot ETF could further strengthen institutional interest, potentially driving the asset toward the $5 mark.
Conversely, if the SEC proceeds with its appeal, market confidence may weaken, leading to a potential price drop below $1.50.
With regulatory uncertainty remaining a dominant factor, XRP investors continue to watch for updates on the SEC’s stance. The upcoming closed meeting could be crucial in determining the next phase of legal proceedings and the broader market trajectory for XRP.
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