As XRP teeters just above the $2 mark, all eyes are now turning to the U.S. Securities and Exchange Commission’s (SEC) closed meeting set for April 3. The gathering, which will address legal and enforcement matters, could have major implications for Ripple Labs and its digital asset, XRP—especially as investors brace for either a regulatory green light or further uncertainty.
At the time of writing, XRP is trading around $2.06. The last week has not been good for XRP as its price had a 15% drop.
While not catastrophic, the downward trend has sparked fresh concerns about whether the cryptocurrency can hold its ground or if it’s on the verge of slipping below a critical psychological threshold.
Ripple’s ongoing battle with the SEC has been a rollercoaster since the commission first filed suit in December 2020. The SEC strongly alleged that the company conducted an unregistered securities offering. Now, after years of legal drama, Ripple recently settled by agreeing to a reduced fine of $50 million, a move many in the crypto space see as a sign of closure.
Still, ambiguity remains.
The upcoming SEC meeting has fueled speculation about potential outcomes. Some XRP holders are hoping for an even bigger win. Like the commission officially dropping any remaining appeals, as and confirming what Ripple has been saying for the week. Or better yet, signaling a greenlight on the long-rumored XRP-spot ETF.
Despite this momentum, the market remains cautious. XRP has now logged five consecutive daily losses, reflecting a broader hesitance among investors. Analysts say that a lot is riding on the outcome of the April 3 meeting.
If the SEC uses this session to signal a softer stance on XRP or even crypto more broadly, it could be a game-changer. But if it’s more of the same uncertainty, delay, or vague enforcement language, XRP might struggle to maintain its current level.
Also Read: XRP Price to Hit $3 or fall to $1.07: Peter Brandt Explains
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