Fact Check: Will the SEC Drop the XRP Lawsuit During “Crypto Week”?

With the beginning of July’s Crypto Week new wave of rumors is circulating 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. 

With XRP prices surging and optimism high, is there any truth to this claim? Here’s what Coinpedia’s review reveals.

Where Did the Claim Come From?

The speculation began on social media and crypto forums, especially 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.

But is there any reliable evidence to support this claim?

Fact Check: Is an SEC Announcement During Crypto Week Possible?

Despite the growing speculation and excitement, former SEC lawyer Marc Fagel, the idea of a sudden announcement is not realistic. He said a settlement or ruling takes time, not days. “It usually takes a month or two for a vote on an enforcement recommendation.” 

So, a quick update during Crypto Week is very unlikely.

Fagel also clarified that Judge Analisa Torres currently has no jurisdiction over the case, as there are no pending motions before her. This means 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 phase. 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 happened.

Key Evidence Table: Coinpedia’s Fact Check

Conclusion