Thursday’s Closed Meeting gives Acting Chair Mark Uyeda, Crypto Task Force Head Hester Peirce, and Commissioner Caroline Cranshaw a chance to vote on the Ripple appeal

Given the 2-1 Republican majority favoring an end to non-fraudulent enforcement cases, a decision to withdraw appears likely.

The Thursday’s Closed Meeting gives Acting Chair Mark Uyeda, Crypto Task Force Head Hester Peirce, and Commissioner Caroline Cranshaw a chance to vote on the Ripple appeal. Given the 2-1 Republican majority favoring an end to non-fraudulent enforcement cases, a decision to withdraw appears likely.

However, the SEC’s three-week silence contrasts with its swift action in the Coinbase (COIN) case, where it formally dismissed the case just one week after Coinbase CEO Brian Armstrong declared a dismissal. An appeal withdrawal could potentially boost the chances of a US XRP-spot ETF market and potentially increase institutional demand.

Tariff Developments May Prove Crucial for XRP

While the SEC vs. Ripple case remains a central focus, US tariff developments and trade negotiations are equally crucial.

The second major event of the week will be the expected rollout of US tariffs on Wednesday, April 9. Trump’s 10% baseline tariffs took effect on Saturday, April 5, highlighting the administration’s commitment despite recent market turbulence.

An intensifying global trade war, with key economies such as China, the EU, and Japan introducing tariffs, could send risk assets deeper into the red. Crypto correlation with the global equity markets may also affect the chances of a crypto Strategic Reserve Asset.

Since January 31, XRP has tumbled 39%. Key contributors to the decline include: