Will July 25 Meeting End the Case?

On Jul 20, 2024

SEC reschedules its meeting to July 25, raising hopes for a resolution in the Ripple vs. SEC case.
XRP bulls break key trendline resistance, signaling potential bullish momentum for Ripple.

The long-running legal dispute between Ripple and the United States Securities and Exchange Commission (SEC) has taken another turn, with the SEC’s previously canceled meeting rescheduled for Thursday, July 25.

This postponement has left the crypto community in anticipation, with many wondering if it will finally bring the long-running case to a close.

🚨BREAKING NEWS:
The canceled SEC meeting from yesterday, July 18, has been postponed to Thursday, July 25!
Will this finally be the end of the #Ripple vs. SEC case? ⚖️https://t.co/TZ8APTjx7y pic.twitter.com/r9nL5i5dGz
— 𝓐𝓶𝓮𝓵𝓲𝓮 (@_Crypto_Barbie) July 19, 2024

XRP Bulls Eye Critical Trendline Break on Weekly Chart

The crypto community is buzzing following a tweet from prominent analyst Captain Faibik announcing a big technological advancement.

According to Faibik, XRP bulls are once again attempting to breach the critical trendline barrier on the weekly timeframe chart. This attempt is regarded as critical to the future price movements of XRP.

Previously, as reported by CNF, the SEC canceled its closed-door meeting, which was expected to address a number of significant cryptocurrency concerns, including the upcoming Ripple settlement.

The postponement of this meeting has sparked speculation and worries in the crypto community regarding the potential outcomes and ramifications for Ripple and the larger market.

Source: Captain Faibik on X

In recent events, XRP has already broken through the aforementioned trendline resistance, which is part of a symmetrical triangle pattern.

This breakout is viewed as a strong positive indicator, implying that Ripple’s price might skyrocket by more than 300%, possibly exceeding the $2.5 level. Such a jump would signal a significant revival and expansion for the cryptocurrency, enticing new investors and traders.

Adding to the momentum, Ripple’s recent performance has shown outstanding trade volumes, particularly in South Korea, where XRP recently surpassed Bitcoin. This growth in trade volume reflects a growing interest and confidence in Ripple, underscoring its potential as a powerful contender in the cryptocurrency industry.

The impending SEC meeting is critical because it may bring clarification and a possible resolution to the legal difficulties surrounding Ripple. Investors and the broader crypto community are eagerly awaiting the verdict, which could have far-reaching repercussions for the regulatory landscape and the future of XRP.