Have Ripple vs. SEC Settlement Rumors Fueled XRP Price Pump?

Ripple's (XRP) price has increased almost 40% to reach around $0.60 in just 2 weeks. This pump is likely because of swirling rumors about Ripple's ongoing dispute with the U.S. Securities and Exchange Commission (SEC).

Ripple’s (XRP) price has surged nearly 40% to trade around $0.60 in the past 2 weeks amid rumors about the U.S. Securities and Exchange Commission’s (SEC) closed-door meeting today.

Many XRP holders are speculating that the meeting could be about Ripple, and their hopes are up. But there is no confirmation on this from any official source.

While Ripple CEO Brad Garlinghouse has been tight-lipped about revealing much on the legal dispute, he seems confident about a resolution.

The CEO highlighted a key ruling that found XRP sales on exchanges did not amount to investment contracts, a verdict that challenges the SEC’s authority to define the same in this case.

Historical Context and Community Sentiment

This price action is reminiscent of an event in mid-July last year when XRP saw a 100% price spike following a partial victory against the SEC. During that time, XRP's value soared from $0.469 to hit $0.937 in a day.

The XRP community now seems to be anticipating a similar move this time around. This anticipation has been driving the recent price surge, with investors and enthusiasts hoping to get in an advantageous position in case of a favorable outcome.

Expert Opinion and Routine Procedures

However, some legal experts remain skeptical about a resolution in the case. Several courtroom victories by Ripple against the SEC have led some to believe that a settlement is less likely.

Marc Fagel, a former SEC lawyer, has earlier dismissed speculation about settlement talks.

The lawyer noted that the commission has closed-door meetings every week. This upcoming meeting, according to this perspective, is likely part of SEC’s routine procedures and not a specific event related to the Ripple case.

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