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Fact Check: Will the SEC Drop the XRP Lawsuit During “Crypto Week”?
With the commencement of July’s Crypto Week, fresh rumors have surfaced in the crypto community claiming that the U.S. Securities and Exchange Commission (SEC) will officially announce the end of its lawsuit against Ripple Labs. As XRP prices surge amid optimism, is there any factual basis to these claims? Our fact-checking review delves into this matter.
The origin of this speculation can be traced back to social media and online forums, particularly following the SEC’s closed-door meeting on July 10. Enthusiasts have amplified these rumors, insisting that a final announcement is imminent, possibly during Crypto Week. However, does any reliable evidence support this claim?
Fact Check: Can an SEC Announcement During Crypto Week Actually Happen?
Despite mounting speculation and excitement, former SEC lawyer Marc Fagel has clarified that the idea of a sudden announcement is unrealistic. He emphasized that settlements or rulings typically require considerable time, not mere days. “It usually takes a month or two for a vote on an enforcement recommendation,” he explained.
Moreover, Judge Analisa Torres currently lacks jurisdiction over the case since there are no pending motions before her. This circumstance further undermines the notion of an imminent court ruling, as it is now in its final phase.
Ripple has agreed to drop its cross-appeal, and the SEC is expected to follow suit. Nevertheless, the SEC must complete an internal vote to withdraw its appeal, a process that has yet to commence.
Key Evidence Table: Coinpedia’s Fact Check
| Claim | Evidence |
| — | — |
| 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 an imminent settlement | However, such meetings are routine and not directly related to Ripple |
Conclusion
Claim: The SEC will announce the end of the Ripple case within “Crypto Week”.
Verdict ❌ False (Fact-Check by Coinpedia)
There is no credible evidence or official statement supporting the notion that the SEC will drop the XRP lawsuit during Crypto Week. Legal experts, including former SEC lawyer Marc Fagel, affirm that the process demands internal voting and formal steps typically requiring one to two months. Furthermore, this speculation relies on viral misinformation rather than factual information.
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Source: coinpedia.org
