Under acting SEC Chair Mark Uyeda, the Securities and Exchange Commission (SEC) has taken a softer stance on the crypto market compared to the aggressive regulatory approach under former Chair Gary Gensler. So far, the agency has dismissed several lawsuits, including cases against Uniswap, Coinbase, Kraken, OpenSea, Robinhood Crypto, and Gemini.
With a closed meeting scheduled for March 6, 2025, speculation is growing that the long-running XRP vs. SEC lawsuit, one of the most significant legal battles in the cryptocurrency industry, may finally be heading toward a settlement or dismissal. The SEC previously held a closed-door meeting with Ripple Labs on February 27, 2025, but the details of the agenda remain confidential.
The Ripple lawsuit began in December 2020 when the SEC accused Ripple Labs of selling XRP as an unregistered security. In 2023, Judge Analisa Torres issued a landmark decision, ruling that XRP itself is not a security. This significantly weakened the SEC’s position, as it challenged the core argument of the agency’s case. Now, a crucial deadline approaches, April 16, 2025, when Ripple must respond to the SEC’s appeal. However, if the SEC decides to withdraw its case before then, the lawsuit could be dismissed.
According to the SEC’s notice, the upcoming meeting will cover several key topics, including the institution and settlement of injunctive actions, administrative proceedings, resolution of litigation claims, and other matters related to examinations and enforcement proceedings.
A Turning Point for Crypto Regulation?
Notably, the closed meeting is taking place just one day before the first-ever White House Crypto Summit on March 7, 2025. The event, hosted by the president and organized by White House AI and Crypto Czar David Sacks, is expected to bring together key industry leaders. Adding to the speculation, Ripple CEO Brad Garlinghouse will be attending the summit, where discussions on crypto regulation and policy are expected to take center stage. This follows the president’s recent announcement regarding the creation of a national crypto reserve, which notably includes XRP, along with Cardano (ADA), Ethereum (ETH), Bitcoin (BTC), and Solana (SOL).
Meanwhile, traders are turning bullish as the SEC formally acknowledges spot XRP ETF applications from major asset managers, including CoinShares, Canary Capital, WisdomTree, Bitwise, 21Shares, and Grayscale. Additionally, a CNF report previously highlighted that Brazil’s securities commission has approved the country’s first spot XRP ETF from Hashdex, though it has yet to begin trading.
XRP has surged 7.90% in the last 24 hours and 10.46% over the past week, fueling optimism among analysts. Many believe that if the SEC withdraws its case, XRP could experience a significant rally, potentially reaching $3.20 in the near term.