The article discusses the upcoming milestone in the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). The XRP community and investors are eagerly awaiting the November 9 meeting, where Ripple and the SEC will discuss unresolved issues in the case. The main point of contention is the appropriate remedies for Ripple’s alleged violations concerning the sale of XRP cryptocurrency. The SEC is seeking a restitution of over $700 million, while Ripple will likely aim to negotiate down the penalty. The SEC has faced setbacks in its case, including dropping charges against Ripple’s CEO and Executive Chairman. The outcome of this meeting could have significant implications for Ripple, the broader cryptocurrency industry, and the treatment of cryptocurrencies in the U.S. market. XRP enthusiasts hope for a positive impact on the digital asset’s price, which has already surged by approximately 13.6%. The article concludes by stating that the fate of XRP and the cryptocurrency industry in the U.S. hangs in the balance.
AI Sentiment: Positive
