Big Day for Ripple (XRP) Tomorrow: Here’s What to Expect and Why the Price Soared

Ripple (XRP) is leading a significant rally, gaining 40% over the past week to reach around $0.60, while BTC rose by about 12% in the same period. This surge is fueled by optimism that Ripple may reach an agreement with US regulators amid an ongoing legal battle.

The Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs in 2020, alleging it raised funds through XRP sales without registering it as a security. In a notable ruling last July, a U.S. District Judge determined that sales of XRP to retail investors on exchanges were not investment contracts, seen as a setback for the SEC.

Speculation is high as the SEC's website lists a “closed meeting” for July 18, fueling investor interest. Zaheer Ebtikar, founder of Split Capital, highlighted that the resolution of XRP’s regulatory status is crucial for investors and traders.

Additionally, Ripple Labs recently announced a $1 million donation to a political action committee aimed at unseating anti-crypto Senator Elizabeth Warren and supporting John Deaton for the Massachusetts Senate.