FOX Business reporter Eleanor Terrett announced the explosive leak in a tweet yesterday at 10 pm EST, which could affect the entire crypto industry or allegedly Ripple and a legal battle with the US Securities and Exchange Commission (SEC).
Terrett wrote that he learned from an anonymous source close to the SEC that the US agency will make a big announcement for the crypto industry tomorrow. Journalist speculation that announcement could come after 2 pm EST, because the SEC is holding a closed meeting at that time:
My SEC source told me to be ready for a potentially big announcement tomorrow. Does it have anything to do with the Kraken settlement after the closed meeting at 2:00pm? Does the settlement term affect the industry? We will see.
Terrett’s tweet has fueled speculation about what the announcement might entail. He himself cited the settlement reached by US exchange Kraken with the US Securities and Exchange Commission.
On Wednesday, it was revealed that Kraken is under investigation for allegedly violating US securities laws. Bloomberg reports that the investigation is at an “advanced stage.” Citing an anonymous source, the report said a settlement could be reached “in the coming days.”
Could Ripple and the SEC Settle?
Meanwhile, hopes have arisen in the XRP community that Ripple may have reached a settlement with the SEC. The rumor stems from the fact that the SEC case against Ripple has been briefed and is currently awaiting a decision from judge Analisa Torres, as reported by Bitcoinist.
XRP community lawyer John E. Deaton has argued in previous tweets that a settlement is impossible before the court’s decision. Deaton believes regulators are ready to fight to the end.
However, LBRY’s partial victory in the case against the SEC may prove to be a game-changer. The SEC was forced to admit outright that secondary market sales were not securities transactions. Still, it remains pure speculation whether the SEC’s announcement will spin on Ripple’s case.
Another hot speculation is the announcement by the SEC about cryptocurrency staking. Coinbase CEO Brian Armstrong tweeted yesterday rumors that the SEC plans to limit retail investors from participating in crypto staking. As expected, the announcement is likely to have a significant impact on the market.
At press time, the price of XRP stood at $0.3925, down slightly in line with the broader market trend. Currently, XRP price is finding important support at the 50 and 100 day EMA.
Featured images from sergeitokmakov / Pixabay, Charts from TradingView.com