Fact Check: Is the SEC vs. Ripple Case Wrapping Up?

Recent rumors suggest that the U.S. Securities and Exchange Commission (SEC) may be nearing the conclusion of its lawsuit against Ripple Labs, the company behind the XRP cryptocurrency.

In the last few days, speculations have been going round on social media, causing a buzz among the crypto community. The speculation began with comments from legal experts and industry influencers, implying that a settlement may be closer than many imagined.

In the post on X, MetaLawMan, one of the primary voices fueling the buzz, stated that Ripple may not settle for the $125 million punishment handed by Judge Analisa Torres in August.

Alternatively, he ventured that the company might be negotiating to vacate sections of the ruling, specifically the permanent injunction preventing institutional XRP sales. “It makes sense (to me at least) that Ripple could be negotiating for a better deal than that,” he wrote.

The speculation gained traction through influencers like Jack the Rippler and was further amplified by journalist Eleanor Terrett, sparking widespread social media discussions despite no official confirmation.

Ex-FOX Business reporter Eleanor Terrett fueled the rumors, reporting that, in her sources’ words, the SEC vs. Ripple case is wrapping up and may conclude shortly.

However, she also said that repeated delays are caused by Ripple’s lawyers insisting on more favorable terms in a settlement before a formal agreement is signed.

XRP fans and crypto influencers swamped sites like X (ex-Twitter) with analysis of each detail and theorizing over what a hypothetical settlement might signify for XRP’s future. Though the talk increases, Ripple Labs and the SEC have released no official notice validating the closure of the suit.

Though stories from reliable sources such as Terrett are intriguing, investors need to exercise caution. Until an official statement is made, they are merely rumors. It can be dangerous to make investment choices based on unsubstantiated news, particularly in the volatile crypto market.

The wait continues for now. Will Ripple get a better deal? Will the SEC finally resolve this high-profile case? The crypto community is watching with bated breath.