- Ripple private meeting with SEC Chair Paul Atkins sparked speculation about a potential lawsuit resolution, but legal experts like ex-SEC lawyer Marc Fagel caution against expecting swift outcomes.
- While XRP holds strong and ETF optimism grows, regulatory clarity remains uncertain and dependent on formal procedures.
Ripple’s Executive Chairman, Chris Larsen, recently met with new SEC Chair Paul Atkins in a confidential May 2 meeting that sent shockwaves across the crypto industry. Given Ripple’s high-stakes legal showdown with the SEC over XRP’s classification, the closed-door session immediately triggered rumors of a potential settlement—or at least a major shift in the regulatory winds.
However, those expecting a legal breakthrough may want to tap the brakes.
Ex-SEC Lawyer Douses Hopes of a Breakthrough
Marc Fagel, a former SEC attorney, was quick to temper the hype. Speaking out on social media, Fagel reminded followers that high-profile litigation like Ripple’s is unlikely to be resolved through private meetings. He stressed that regulatory processes require formal, transparent litigation—not backroom deals.
Fagel noted that discussions like these will not lead to an immediate legal resolution, warning that optimism without facts could mislead investors and the broader community.
What Was Really on the Agenda?
Insiders speculate that the meeting may have touched on broader topics like crypto policy innovation or regulatory frameworks for blockchain companies, even though no official agenda has surfaced. There’s also chatter around SEC Chair Atkins’ earlier suggestion of a “regulatory sandbox” to support blockchain startups—a proposal that could benefit firms like Ripple. Still, there’s no confirmation that these ideas were discussed.
Ripple Price Holds Strong as ETF Hopes Grow
Meanwhile, XRP continues to hold firm around $2.19, despite brief dips triggered by delays in crypto-related SEC filings. Market sentiment remains upbeat, especially with growing speculation around an XRP ETF.
Bloomberg analyst Eric Balchunas recently upped the odds to an 85% chance of XRP ETF approval this year, citing rising interest from asset managers and improving regulatory clarity.
Stay Cautious, Stay Informed
While the Larsen-Atkins meeting is undeniably intriguing, legal experts urge caution. As the XRP lawsuit grinds on, regulatory clarity remains a long-term game. Informal meetings may offer hope—but don’t mistake them for concrete progress.
