On Tuesday, April 21, Paul Atkins was sworn in as the new chairman of the Securities and Exchange Commission (SEC). On Thursday, April 24, the SEC will hold a closed meeting — and many are speculating, could it augur the conclusion of the longstanding Ripple v. SEC case?
Sunshine Act notice regarding the April 24 SEC meeting. Source: SEC
Despite Ripple Labs Chief Executive Officer (CEO) Brad Garlinghouse’s March 19 announcement that the case was concluded, a binding, legal resolution has not yet been reached.
In the meantime, XRP has experienced negative price action. The token’s price has decreased by 17.64% from a post-announcement high of $2.55 down to $2.10 at press time, with year-to-date (YTD) gains standing at 0.83%.
XRP price year-to-date (YTD) chart. Source: Finbold
While the token has found a strong zone of support at $2, without a bullish catalyst, a breakout above the crucial $2.20 level of resistance seems unlikely. Let’s examine the likelihood that
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