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Fact Check: Will the SEC Drop the XRP Lawsuit During “Crypto Week”?
With the beginning of July’s Crypto Week stirring a new wave of rumors in the crypto community, it has been claimed that the U.S. Securities and Exchange Commission (SEC) will officially announce the end of its lawsuit against Ripple Labs. With XRP prices surging and optimism at an all-time high, is there any truth to this claim? Here’s what our review reveals.
The speculation initially started on social media and crypto forums after the SEC listed a closed-door meeting on July 10. XRP enthusiasts and supporters have amplified these rumors, insisting that a final SEC announcement is imminent, possibly during Crypto Week. However, but is there any reliable evidence to support this claim?
Despite growing excitement and speculation, former SEC lawyer Marc Fagel has clarified that the idea of a sudden announcement is not realistic. He emphasized that “it usually takes a month or two for a vote on an enforcement recommendation.” This means that a quick update during Crypto Week is highly unlikely.
Additionally, Judge Analisa Torres currently has no jurisdiction over the case since there are no pending motions before her. Consequently, she cannot settle the case before July 14, further debunking the idea of an imminent court ruling.
The legal process is now in its final stage. Ripple has agreed to drop its cross-appeal and the SEC is expected to do the same. However, the SEC must still complete an internal vote to withdraw its appeal, a step that has not yet occurred.
We have compiled the evidence below:
| Claim | Coinpedia’s Evidence |
| — | — |
| The SEC will announce the end of the Ripple case during Crypto Week | No official confirmation; legal process takes 1-2 months |
| Judge Torres could settle the case before July 14 | Meanwhile, she has no jurisdiction or pending motions |
| SEC closed-door meetings signal imminent settlement | Meetings are routine and not directly related to Ripple |
In conclusion, the claim that the SEC will announce the end of the Ripple lawsuit during Crypto Week is unfounded. There is no credible evidence or official statement supporting this notion. Legal experts, including former SEC lawyer Marc Fagel, confirm that the process necessitates internal voting and formal steps that typically take one to two months.
In summary, the speculation behind this claim relies on viral misinformation rather than fact.
Source: coinpedia.org
