#CryptoMarket4T XRP News Today: XRP Falls Below $3.50 as SEC Meeting Yields No Vote; BTC Dips to $116k
XRP slips below $3.5 as SEC remains silent on Ripple appeal vote during July 18’s closed-door meeting.
Legal experts expect the SEC to drop its Ripple appeal, but the timing of a vote remains uncertain.
XRP’s path to $4 hinges on SEC’s vote, ETF filings, and further clarity on US crypto regulation.
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BTCO
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Ripple Case: SEC Silent on Appeal Withdrawal
Hopes of the SEC voting to drop its appeal in the SEC vs. Ripple case on Thursday’s closed meeting faded on Friday, July 18. The SEC’s silence weighed on sentiment, with XRP pulling back from a July 18 all-time high of $3.6629 to sub-$3.50 levels.
Speculation about an SEC vote had intensified in the lead-up to Thursday’s closed meeting. However, former SEC lawyer Marc Fagel tempered expectations of a vote so soon after Judge Torres rejected the joint motion for an indicative ruling on settlement terms. He stated:
“Reminder: The SEC holds a closed meeting every Thursday. The agenda is confidential, and everyone claiming to know what’s on it is making it up. There’s no doubt the SEC will be voting to dismiss the Ripple appeal in the coming weeks, but nobody outside the SEC knows exactly when.”