The U.S. Securities and Exchange Commission’s (SEC) closed-door meeting on July 10th has stirred excitement around altcoin XRP, potentially shifting the four-year-long lawsuit involving Ripple 
$1. The agenda’s brief mention of “enforcement matters” has led to speculations that the regulatory body might withdraw its appeal concerning XRP. This decision could provide clarity on XRP’s legal status, but some experts warn that expectations may be exaggerated.
The Impact of the July 10 SEC Hearing
On July 10, at the SEC’s headquarters in Washington, five commission members and the legal team will gather under the headline “enforcement matters” as part of a closed session following Section 4-b of the 1934 Securities Exchange Act. Despite limited information, the possibility of the SEC withdrawing its appeal regarding XRP is under consideration. The Ripple-SEC lawsuit, which began at the end of 2020, may see a conclusion regarding XRP’s status as a security should the SEC retract its appeal.
Some experts argue that a potential settlement could align with the Fedwire’s planned launch of Distributed Ledger Technology and the ISO 20022 transition on July 14. A commentator under the alias Jazzy Q suggests that if all modules are activated within the same week, XRP could play a key role in the new payment infrastructure, potentially driving its price to “incomprehensible levels.”
XRP Community Awaits, Experts Exercise Caution
Former SEC attorney Marc Fagel highlights that closed-door meetings generally pertain to routine files and that significant decisions from the institution are rare towards the weekend. His statement, “The Commission does not work on Saturdays,” aims to temper expectations. Meanwhile, another user named unknowDLT emphasizes that withdrawing the appeal on a Saturday is procedurally possible, with artificial intelligence tools supporting this hypothesis.
Moreover, some caution that should no decision emerge from the SEC’s July 10 meeting, Ripple and XRP may linger in an uncertain territory again. While fund managers focus on hedging risks in the short term, individual investors view each official announcement as a potential price signal and closely monitor developments.
