The United States Securities and Exchange Commission (SEC) recently revealed its plans to hold a private meeting on Thursday, November 30, which has raised concerns in the XRP community.

While the specific agenda has not been disclosed, insiders speculate that the meeting will address key issues related to ongoing enforcement proceedings, including the much-anticipated “XRP case” settlement.

Although the SEC’s announcement did not explicitly mention Ripple or XRP, it sparked a wave of speculation within the XRP community.

Investors are eagerly awaiting any developments that could signal a possible resolution to the protracted legal dispute between Ripple and the SEC, which has cast a shadow over XRP’s future for more than two years.

The Ripple v. SEC lawsuit is currently in the remedial discovery phase. Both parties have been given until February 12, 2024 to complete remedial discovery.

After this deadline, the SEC will have until mid-March to file a brief outlining the remedies it seeks, and then Ripple will have a month to file any objections. The SEC will have one last chance to respond to Ripple's objections before the judge rules on any remedies, until the end of April.

A $770 million obstacle

At the heart of the Ripple v. SEC dispute is the SEC’s claim that XRP is an unregistered security. Ripple has strongly refuted this claim, arguing that XRP is a decentralized cryptocurrency that is not subject to security regulations.

In July 2023, the SEC decided to impose a huge fine of $770 million on Ripple, marking a critical moment in the case. Although prominent legal experts in the cryptocurrency industry expect the final fine amount to be significantly reduced, the road to settlement is expected to be challenging and complex negotiations and discussions are expected.

SEC closed-door meeting arouses high expectations

Against this backdrop, investors are closely watching the outcome of the SEC private meeting, which could lay the groundwork for a resolution to the Ripple lawsuit, as the XRP community hopes.

The settlement will undoubtedly have a profound impact on XRP’s future trajectory, potentially clearing the way for its widespread adoption and integration into the global financial landscape.

The SEC’s decision to hold a closed-door meeting on this sensitive issue further underscores the importance of the Ripple lawsuit and its potential impact on the broader cryptocurrency industry.

While the outcome remains uncertain, the conference has undoubtedly reignited the hopes of XRP investors, who are eagerly awaiting any news that could herald a brighter future for their crypto asset.