Ripple’s XRP token has experienced a notable 6% surge following the rescheduling of a closed-door meeting by the Securities and Exchange Commission (SEC), raising hopes for a potential resolution in the ongoing legal battle between Ripple and the SEC. The meeting, which was initially set for July 18 but later canceled, has been rescheduled for July 25, leading to speculation that a settlement may be on the horizon.
This recent development has sparked optimism, with XRP’s price currently trading at $0.5938, reflecting a 6.76% increase within a day. It is worth mentioning that the XRP token has witnessed larger surges of 17.54% and 20.21% over the past week and month, respectively. However, there has been a significant decrease of 15% in the token’s 24-hour trading volume, standing at $2.14 billion.
One XRP advocate, Bill Morgan, highlighted the positive price action of XRP following the SEC’s updated notice on the meeting, emphasizing that XRP has become the best-performing token among the top 10 cryptocurrencies.
The SEC’s closed-door meeting, to take place on July 25, will supposedly address various matters, such as the institution and settlement of administrative proceedings, resolution of litigation claims, and enforcement proceedings. As it is a closed-door meeting, specific details discussed during the event will not be accessible to the public.
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