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Fact Check: Will the SEC Drop the XRP Lawsuit During “Crypto Week”?
With the start of July’s Crypto Week bringing a new wave of rumors and speculation in the crypto community, there is growing chatter that the U.S. Securities and Exchange Commission (SEC) will officially announce the end of its lawsuit against Ripple Labs during this period. As XRP prices surge and optimism soars, is there any truth to these claims? Here’s what our review reveals.
The origin of this speculation appears to have stemmed from a closed-door meeting scheduled for July 10 by the SEC. Enthusiasts and supporters of XRP on social media and crypto forums have amplified these rumors, asserting that a final SEC announcement is imminent, potentially during Crypto Week. However, is there any reliable evidence supporting this claim?
Despite the escalating speculation and excitement, former SEC lawyer Marc Fagel has cast doubt on the idea of a sudden announcement. He emphasized that settlements or rulings typically take at least one to two months. “It usually takes a month or two for a vote on an enforcement recommendation,” Fagel clarified.
Furthermore, Judge Analisa Torres has no jurisdiction over the case since there are no pending motions before her. This means she cannot settle the case prior to July 14, further debunking the notion of an imminent court ruling.
Currently, the legal process is in its final stage. Ripple has agreed to withdraw its cross-appeal, and the SEC is expected to follow suit. However, the SEC still needs to complete an internal vote to withdraw its appeal, a step that has not yet occurred.
Key Evidence Table: Coinpedia’s Fact Check
| Claim | 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 an imminent settlement | However, these meetings are routine and unrelated 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 idea that the SEC will announce the end of the Ripple case during Crypto Week. Legal experts, including former SEC lawyer Marc Fagel, confirm that the process requires internal voting and formal steps typically taking one to two months. Furthermore, this claim relies on viral misinformation rather than fact.
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Source: coinpedia.org
