Price of Ripple (XRP) Plummets Amid SEC Meeting Cancellation
The price of Ripple (XRP) has dropped by 9%, hitting a low of $0.55.
- SEC cancels key meeting, erasing gains
- Speculation over potential settlement talks
- Ripple CEO hints at imminent resolution
Speculation Surrounding SEC Meeting and Ripple’s Price
Subscribe to our Social Media for Exclusive Crypto News and Insights 24/7!
The recent cancellation of the SEC’s meeting has raised speculation among investors and the XRP community.
- Meeting expected to address legal actions and ongoing litigation
- Potential settlement talks between SEC and Ripple
- XRP price surges following news of potential settlement
“Hall Of Mirrors”
Speculation intensified when Ripple CEO Brad Garlinghouse hinted at a possible resolution with the SEC.
“We expect resolution very soon, but can’t predict when the judge will rule there.”
Despite the positive catalyst of potential settlement, XRP’s price rally faltered post-meeting cancellation.
- XRP price briefly crossed $0.6 mark
- Disappointment among XRP community
- SEC has held numerous closed-door meetings with no settlements
SEC Drags the Legal Battle with Ripple
The legal battle between the SEC and Ripple over XRP’s classification as a security continues.
- Ripple defends XRP as not a security
- SEC seeks a $2 billion fine, Ripple proposes $10 million
- Remaining charges to be discussed for potential resolution
XRP Price Plunge and Speculations
The sudden drop in XRP’s price may not deter long-term confidence in Ripple’s prospects.
- Disagreements over penalties and remedies continue
- Speculation on the SEC’s potential focus shift towards Ethereum ETF approvals
- Spot Ethereum ETFs expected to debut trading soon
Hot Take: XRP and Shiba Inu Amid Market Volatility
Amid market volatility, XRP and Shiba Inu (SHIB) face significant fluctuations.
- SEC meeting cancellation impacts XRP price
- Shiba Inu dips after cyberattack on WazirX
- Market uncertainty prevails
Sources:
1. CoinGecko’s data
2. SEC on BNN Bloomberg
