XRP News Today: Ripple Case—Why Today’s Meeting Could Change Everything; BTC at $97K 

Why Is Empower Oversight Suing the SEC?Empower Oversight’s lawsuit could have direct implications for the Ripple case. Acting Chair Uyeda could justify an appeal withdrawal if the OIG investigation uncovers crypto conflicts of interest, where the agency acted biasedly against Ripple and XRP.The controversy dates back to 2018, when former SEC Division of Corporation Finance Director William Hinman declared that bitcoin (BTC) and ethereum (ETH) were not securities. However, Empower Oversight alleges that Hinman received millions from his former employer, legal firm Simpson Thacher while advising the agency on crypto regulations.After leaving the SEC, Hinman returned to Simpson Thacher, a firm that actively promotes Enterprise Ethereum. During the Ripple case, Judge Analisa Torres rejected at least six attempts by the SEC to shield the Hinman speech-related documents under the attorney-client privilege. The Hinman speech-related documents revealed that Hinman continued meeting with Simpson Thacher employees despite warnings from the SEC’s Ethics Division.ETH and XRP competed in 2018 for the second-largest crypto by market cap. Hinman’s speech likely contributed to ETH cementing its status as the dominant alternative to BTC.XRP Price Trends: Will the SEC Trigger a Move Toward $5On Wednesday, February 12, XRP gained 2.52%, reversing Tuesday’s 0.46% loss, closing at $2.4741. The move aligned with the broader market, which rose 2.62%, taking the total crypto market cap to $3.18 trillion.However, XRP remains well below the January 16 high of $3.3999 and its 2018 record high of $3.5505 as uncertainty about the SEC’s appeal lingers.Key Price Scenarios:Bullish Case: If the SEC withdraws its appeal, XRP could rally past its all-time high of $3.5505.
ETF Catalyst: Approval of an XRP-spot ETF may drive XRP toward $5, fueled by institutional demand.
Bearish Case: If the SEC proceeds with the appeal and disapproves XRP-spot ETF applications, the token could slide below $1.50.