Over the last four years, the legal battle between Ripple and the Securities and Exchange Commission (SEC) has been one of the most watched cases in the crypto industry. As the case drags on, the price of XRP has suffered greatly.
The lawsuit, highlighted as one of the major suppressors of XRP’s momentum, has reached several pivotal moments including the July 2023 ruling that classified the programmatic sales of the coin as non-security. Even though the SEC proceeded to challenge this decision in January, several updates point to a possible resolution coming soon.
Over the last month, the regulatory body has moved on from several high-profile crypto cases. Lawsuits and investigations involving firms like Kraken, Consensys, Uniswap, Robinhood, Binance, Coinbase, and others, have been either paused or dismissed.
The rapid end to these lawsuits, initiated by the SEC under former chairman Gary Gensler, has been spearheaded by new acting chairman Mark Uyeda. Since the new administration takeover, the U.S. has seen a systemic shift in crypto enforcement, creating room for blockchain advancement and innovation in the country.
Also Read: Here is Why Ripple (XRP) is Crashing Today
This ease in regulatory enforcement coupled with the wave of lawsuit dismissals has led to wide speculations within the XRP community as members hope for the Ripple lawsuit to be next in line for a resolution.
In fact, former SEC official, John Reed Stark, while commenting on the Kraken case dismissal, opined that the Ripple lawsuit will be resolved soon.
“The SEC Kraken Case Bites the Dust. The Unprecedented Demolition of SEC Crypto-Enforcement Continues at a Furious Pace. Next Up Ripple for Sure,” he said.
While the SEC has remained silent on its next move regarding the case, an approaching SEC closed-door meeting has fueled conjecture.
SEC to Hold Closed Door Meeting on March 13
The SEC’s next close-door meeting is set to take place on Wednesday, March 13, 2025. The weekly private meeting has continued to ignite speculations about the possibility of the Ripple lawsuit being thrown into the conversation.
According to the SEC Sunshine Act Notice, the agendas to be discussed include institution and settlement of injunctive actions, institution and settlement of administrative proceedings, resolution of litigation claims, and other matters relating to examinations and enforcement proceedings.
Pundits have speculated that the lawsuit could be discussed under the litigation claims agenda, hence, leading to a possible resolution this week.
Has SEC Quietly Dropped the Case?
Meanwhile, 36crypto reported previously that former White House official, Anthony Scaramucci, suggested, in an interview on the Wolf of All Streets podcast, that the SEC had already quietly dropped the Ripple lawsuit.
His remark quickly triggered arguments within the XRP community with members weighing the possibility of this happening even after several experts have stressed on the complexities of the Ripple lawsuit as the major reason behind it being in limbo.
If Scaramucci’s words hold, then it is possible that the SEC may finally officially announce the end of the lawsuit this week. While Scaramucci did not present any evidence, his bold assertion makes it a possibility.
Major Deadline Approaching
The SEC’s silence on the Ripple lawsuit is deafening with pundits highlighting several reasons for this. One factor that has been highlighted is a possible ongoing negotiation between Ripple and the SEC.
The two entities may be trying to come to terms regarding the previous rulings made in the case, especially about the injunction placed on Ripple stopping it from further distributing XRP.
Another reason could be regulatory timing. Recall that the next crucial date in the lawsuit is April 16, when Ripple is expected to submit its opening brief, highlighting the portion of the ruling it wants to challenge.
With about 37 days remaining until the deadline, the agency may be taking its time, and possibly awaiting Paul Atkins’s confirmation before making any decision. Meanwhile, the price of XRP has plummeted significantly.
At the time of writing, XRP traded at $2.18, reflecting a 3.30% decline in the last 24 hours. A favorable conclusion to the lawsuit could drive XRP’s price toward its previous all-time high of $3.4, however, the price could plunge as low as $1.5 if the case persists.
Also Read: XRP to See Massive Surge After April 16, Here is Why
