After more than three years of legal wrangling, Ripple and the U.S. Securities and Exchange Commission (SEC) seem to be nearing the end of this historic battle. Rumors are swirling that everything will come to a head this Thursday. But is that true or just a wave of expectations pushed too far? Let's break down the key facts and find out what is real and what is fake in this high-profile lawsuit.
Misleading viral tweet
A tweet from journalist Eleanor Terrett unexpectedly went viral again, raising speculation that the SEC may decide to dismiss the Ripple (XRP) lawsuit in a closed meeting scheduled for Thursday. However, what many do not realize is that this tweet was actually posted back in March. The information is not new and only reflects the SEC's internal meeting schedule at that time, not a groundbreaking update as many are thinking.
What is really happening with the Ripple vs SEC lawsuit?
Ripple and the SEC reached a partial agreement some time ago. Specifically, Ripple agreed to pay a civil penalty for previous XRP sales to institutions, while the court ruled that XRP is not a security in the secondary market. However, the final paperwork, the withdrawal, and the official statement from the SEC are still pending.
Stuart Alderoty, Ripple's General Counsel, recently reiterated that the case is essentially over, awaiting final procedures. But there has still been no official approval from the SEC.
Why does this matter for the XRP and cryptocurrency market?
Many analysts believe that once the final paperwork is completed and legal transparency is fully established for Ripple, it could open new acceptance opportunities for institutions and potentially drive an XRP price surge. Some even speculate that an XRP ETF may soon be approved. But until the SEC officially announces the dismissal, it is still too early to declare victory.
In summary, the statement that the Ripple vs SEC case will end this Thursday is based on an old tweet and speculation. Currently, there is still no confirmed date for the final dismissal announcement.
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